Handelsbanken Fonder AB Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Handelsbanken Fonder AB boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,632,128 shares of the company’s stock after purchasing an additional 112,180 shares during the quarter. Handelsbanken Fonder AB’s holdings in Coca-Cola were worth $101,616,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on KO. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Trading Up 1.5 %

Shares of NYSE:KO opened at $70.11 on Thursday. The company has a 50 day moving average of $63.42 and a 200-day moving average of $66.39. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $302.00 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.73 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.