The Coca-Cola Company (NYSE:KO) Shares Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 51.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 50,383 shares of the company’s stock after purchasing an additional 17,067 shares during the quarter. Portfolio Design Labs LLC’s holdings in Coca-Cola were worth $3,137,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quent Capital LLC boosted its stake in shares of Coca-Cola by 29.0% during the 4th quarter. Quent Capital LLC now owns 13,666 shares of the company’s stock worth $851,000 after acquiring an additional 3,076 shares in the last quarter. New Republic Capital LLC boosted its stake in shares of Coca-Cola by 21.0% during the 4th quarter. New Republic Capital LLC now owns 8,523 shares of the company’s stock worth $531,000 after acquiring an additional 1,482 shares in the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Coca-Cola by 5.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 33,122 shares of the company’s stock worth $2,062,000 after acquiring an additional 1,577 shares in the last quarter. Weatherly Asset Management L. P. boosted its stake in shares of Coca-Cola by 3.8% during the 4th quarter. Weatherly Asset Management L. P. now owns 99,362 shares of the company’s stock worth $6,186,000 after acquiring an additional 3,679 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Coca-Cola by 525.2% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 7,971 shares of the company’s stock worth $496,000 after acquiring an additional 6,696 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $67.61 on Wednesday. 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 1 year low of $57.93 and a 1 year high of $73.53. The business has a fifty day simple moving average of $62.55 and a 200 day simple moving average of $66.31. The firm has a market cap of $291.27 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Finally, 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. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

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.