Kentucky Retirement Systems Insurance Trust Fund Grows Position in The Coca-Cola Company (NYSE:KO)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 17.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 134,487 shares of the company’s stock after acquiring an additional 19,643 shares during the period. Coca-Cola accounts for about 0.7% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 25th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Coca-Cola were worth $8,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. Investment Partners Asset Management Inc. boosted its stake in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Blossom Wealth Management lifted its stake in Coca-Cola by 3.3% during the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after purchasing an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Coca-Cola by 1.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock worth $718,000 after buying an additional 159 shares in the last quarter. DeDora Capital Inc. grew its holdings in shares of Coca-Cola by 3.4% during the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after purchasing an additional 160 shares during the last quarter. Finally, Freedom Day Solutions LLC grew its stake in shares of Coca-Cola by 1.1% during the third quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock valued at $1,022,000 after buying an additional 160 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.9 %

Shares of KO stock opened at $68.85 on Tuesday. The stock has a market cap of $296.59 billion, a P/E ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. The company’s fifty day simple moving average is $63.02 and its two-hundred day simple moving average is $66.36. 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. UBS Group raised their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut 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 report on Tuesday, January 28th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.82.

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.