Summit Place Financial Advisors LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)

Summit Place Financial Advisors LLC increased its position in The Coca-Cola Company (NYSE:KO) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,610 shares of the company’s stock after buying an additional 658 shares during the period. Summit Place Financial Advisors LLC’s holdings in Coca-Cola were worth $1,408,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Howard Capital Management Group LLC grew its stake in shares of Coca-Cola by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after buying an additional 2,069 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Coca-Cola during the third quarter valued at approximately $139,000. Evernest Financial Advisors LLC grew its stake in shares of Coca-Cola by 4.8% during the third quarter. Evernest Financial Advisors LLC now owns 14,449 shares of the company’s stock valued at $1,038,000 after buying an additional 659 shares during the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of Coca-Cola by 3.9% during the third quarter. Horst & Graben Wealth Management LLC now owns 8,882 shares of the company’s stock valued at $638,000 after buying an additional 330 shares during the last quarter. Finally, Ledyard National Bank grew its stake in shares of Coca-Cola by 12.2% during the third quarter. Ledyard National Bank now owns 19,131 shares of the company’s stock valued at $1,375,000 after buying an additional 2,076 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen raised 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. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two research 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 stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Performance

Shares of KO opened at $68.99 on Wednesday. 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 stock has a fifty day moving average price of $63.27 and a 200-day moving average price of $66.36. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market cap of $297.20 billion, a PE ratio of 27.93, a P/E/G ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts predict 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.