Burke & Herbert Bank & Trust Co. Has $5.86 Million Stake in The Coca-Cola Company (NYSE:KO)

Burke & Herbert Bank & Trust Co. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,099 shares of the company’s stock after selling 240 shares during the quarter. Coca-Cola comprises about 1.4% of Burke & Herbert Bank & Trust Co.’s portfolio, making the stock its 15th biggest position. Burke & Herbert Bank & Trust Co.’s holdings in Coca-Cola were worth $5,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, UBS Group increased their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Down 0.9 %

KO stock opened at $68.85 on Monday. The business has a 50-day moving average of $63.02 and a 200-day moving average of $66.36. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a market capitalization of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

About Coca-Cola

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.