Private Management Group Inc. Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Private Management Group Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,316 shares of the company’s stock after acquiring an additional 703 shares during the period. Private Management Group Inc.’s holdings in Coca-Cola were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Clayton Financial Group LLC lifted its stake in Coca-Cola by 4.7% in the 4th quarter. Clayton Financial Group LLC now owns 5,852 shares of the company’s stock valued at $364,000 after buying an additional 263 shares in the last quarter. Meritage Portfolio Management lifted its stake in Coca-Cola by 0.5% in the 4th quarter. Meritage Portfolio Management now owns 80,668 shares of the company’s stock worth $5,022,000 after purchasing an additional 379 shares in the last quarter. Choreo LLC raised its position in shares of Coca-Cola by 47.2% during the 4th quarter. Choreo LLC now owns 287,124 shares of the company’s stock valued at $17,834,000 after buying an additional 92,041 shares during the period. Tectonic Advisors LLC raised its position in Coca-Cola by 15.2% in the fourth quarter. Tectonic Advisors LLC now owns 115,102 shares of the company’s stock valued at $7,166,000 after purchasing an additional 15,149 shares during the period. Finally, Money Concepts Capital Corp raised its position in Coca-Cola by 1.8% in the fourth quarter. Money Concepts Capital Corp now owns 92,577 shares of the company’s stock valued at $5,764,000 after purchasing an additional 1,656 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.4 %

Shares of KO opened at $63.37 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 firm has a market cap of $272.96 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The company’s fifty day moving average is $62.56 and its two-hundred day moving average is $66.34. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KO shares. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, UBS Group dropped their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price 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.