Portfolio Design Labs LLC Acquires 17,067 Shares of The Coca-Cola Company (NYSE:KO)

Portfolio Design Labs LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 51.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,383 shares of the company’s stock after purchasing an additional 17,067 shares during the period. Portfolio Design Labs LLC’s holdings in Coca-Cola were worth $3,137,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter worth about $43,000. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KO shares. TD Cowen upgraded 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. Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. UBS Group decreased their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Stock Up 4.7 %

NYSE KO opened at $67.61 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock’s 50 day moving average is $62.55 and its two-hundred day moving average is $66.31. The company has a market capitalization of $291.27 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola 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.