The Coca-Cola Company (NYSE:KO) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 87,924 shares of the company’s stock after buying an additional 2,635 shares during the quarter. Global Retirement Partners LLC’s holdings in Coca-Cola were worth $5,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC purchased a new position in Coca-Cola during the fourth quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter worth $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $68.99 on Wednesday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a 50 day moving average of $63.27 and a two-hundred day moving average of $66.36. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $297.20 billion, a PE ratio of 27.93, a P/E/G ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on KO shares. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Finally, Piper Sandler lowered their price objective 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 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, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus 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.