MTM Investment Management LLC Has $3.14 Million Stock Position in The Coca-Cola Company (NYSE:KO)

MTM Investment Management LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 8.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 50,468 shares of the company’s stock after selling 4,664 shares during the period. Coca-Cola comprises approximately 1.2% of MTM Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. MTM Investment Management LLC’s holdings in Coca-Cola were worth $3,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. ORG Wealth Partners LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $58,000. Creative Planning boosted its position in shares of Coca-Cola by 4.0% during the 3rd quarter. Creative Planning now owns 1,852,532 shares of the company’s stock worth $133,123,000 after acquiring an additional 70,604 shares in the last quarter. Acorn Creek Capital LLC bought a new position in Coca-Cola in the third quarter valued at approximately $207,000. CCG Wealth Management LLC increased its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Opal Wealth Advisors LLC increased its stake in Coca-Cola by 6.7% in the third quarter. Opal Wealth Advisors LLC now owns 15,405 shares of the company’s stock valued at $1,107,000 after acquiring an additional 970 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, DZ Bank raised 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 Thursday. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $73.41.

Coca-Cola Price Performance

KO stock opened at $68.73 on Thursday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a market cap of $296.08 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.55 and a beta of 0.61. The company’s fifty day simple moving average is $62.63 and its 200 day simple moving average is $66.32.

Coca-Cola (NYSE:KO) last posted 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 net margin of 22.45% and a return on equity of 44.01%. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current 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.