Kentucky Retirement Systems Insurance Trust Fund Purchases 19,643 Shares of The Coca-Cola Company (NYSE:KO)

Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of The Coca-Cola Company (NYSE:KO) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,487 shares of the company’s stock after acquiring an additional 19,643 shares during the quarter. Coca-Cola accounts for 0.7% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, 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.

Several other hedge funds also recently made changes to their positions in KO. Investment Partners Asset Management Inc. grew its holdings in shares of Coca-Cola by 2.2% during 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 in the last quarter. Blossom Wealth Management grew 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 buying an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Coca-Cola by 1.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after buying an additional 159 shares during the period. DeDora Capital Inc. raised its position in shares of Coca-Cola by 3.4% in the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after buying an additional 160 shares in the last quarter. Finally, Freedom Day Solutions LLC lifted its holdings in shares of Coca-Cola by 1.1% during the 3rd quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock worth $1,022,000 after acquiring an additional 160 shares during the period. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on KO shares. Piper Sandler lowered their price objective on shares of 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 Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. 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 research note on Thursday, December 12th. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. 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 stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Down 0.9 %

Shares of KO opened at $68.85 on Tuesday. The company has a market capitalization of $296.59 billion, a PE ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. The stock’s 50-day moving average price is $63.02 and its two-hundred day moving average price is $66.36. 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 Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

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 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%. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current 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.