Klingman & Associates LLC Raises Position in The Coca-Cola Company (NYSE:KO)

Klingman & Associates LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,510 shares of the company’s stock after buying an additional 438 shares during the quarter. Klingman & Associates LLC’s holdings in Coca-Cola were worth $592,000 as of its most recent SEC filing.

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

Coca-Cola Price Performance

Coca-Cola stock opened at $68.99 on Wednesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business has a fifty day moving average price of $63.27 and a 200-day moving average price of $66.36. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $297.20 billion, a P/E ratio of 27.93, a PEG ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Evercore ISI increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Two 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

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.