Benedict Financial Advisors Inc. Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Benedict Financial Advisors Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,103 shares of the company’s stock after acquiring an additional 772 shares during the quarter. Coca-Cola comprises approximately 1.2% of Benedict Financial Advisors Inc.’s holdings, making the stock its 27th biggest position. Benedict Financial Advisors Inc.’s holdings in Coca-Cola were worth $4,925,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its stake in shares of Coca-Cola by 145.6% in the fourth quarter. WCM Investment Management LLC now owns 64,128 shares of the company’s stock worth $3,978,000 after purchasing an additional 38,017 shares in the last quarter. Empowered Funds LLC increased its stake in Coca-Cola by 12.0% in the 4th quarter. Empowered Funds LLC now owns 235,142 shares of the company’s stock worth $14,640,000 after buying an additional 25,176 shares in the last quarter. Pacific Wealth Strategies Group Inc. raised its holdings in Coca-Cola by 1.6% during the fourth quarter. Pacific Wealth Strategies Group Inc. now owns 22,385 shares of the company’s stock valued at $1,394,000 after acquiring an additional 357 shares during the period. Forbes J M & Co. LLP lifted its position in shares of Coca-Cola by 0.3% in the fourth quarter. Forbes J M & Co. LLP now owns 236,691 shares of the company’s stock valued at $14,736,000 after acquiring an additional 783 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Coca-Cola by 2.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 196,874 shares of the company’s stock worth $12,257,000 after acquiring an additional 4,637 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of KO opened at $63.84 on Friday. 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. The company has a market cap of $275.03 billion, a PE ratio of 26.38, a P/E/G ratio of 3.55 and a beta of 0.61. The business has a fifty day moving average of $62.53 and a 200 day moving average of $66.31.

Analysts Set New Price Targets

Several analysts recently issued reports on KO shares. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. UBS Group decreased their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays cut their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.19.

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.