Sierra Ocean LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Sierra Ocean LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 954 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds also recently modified their holdings of KO. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.9 %

KO opened at $68.85 on Tuesday. The stock has a market cap of $296.59 billion, a PE ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. 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 business’s fifty day simple moving average is $63.02 and its 200 day simple moving average is $66.36.

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

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent research reports. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. UBS Group upped their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays increased their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given 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 an average 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.