Cidel Asset Management Inc. Raises Stake in The Coca-Cola Company (NYSE:KO)

Cidel Asset Management Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,949 shares of the company’s stock after purchasing an additional 201 shares during the period. Cidel Asset Management Inc.’s holdings in Coca-Cola were worth $868,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KO. Investment Advisory Group LLC increased its position in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after acquiring an additional 146 shares during the period. CCG Wealth Management LLC increased its holdings in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares during the period. Investment Partners Asset Management Inc. raised its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. Blossom Wealth Management raised its position in Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after purchasing an additional 155 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its holdings in shares of Coca-Cola by 1.6% in the 3rd 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 during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Piper Sandler lowered 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. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Price Performance

NYSE:KO opened at $63.84 on Friday. The firm’s fifty day moving average is $62.54 and its two-hundred day moving average is $66.32. The firm has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

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.