Forbes J M & Co. LLP Raises Position in The Coca-Cola Company (NYSE:KO)

Forbes J M & Co. LLP boosted its holdings in The Coca-Cola Company (NYSE:KO) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,691 shares of the company’s stock after purchasing an additional 783 shares during the quarter. Coca-Cola makes up 1.4% of Forbes J M & Co. LLP’s portfolio, making the stock its 21st biggest holding. Forbes J M & Co. LLP’s holdings in Coca-Cola were worth $14,736,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Investment Advisory Group LLC raised its stake in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares in the last quarter. CCG Wealth Management LLC raised its position in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. lifted its stake in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Blossom Wealth Management boosted its holdings in Coca-Cola by 3.3% during the third 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 grew its stake 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 valued at $718,000 after purchasing an additional 159 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on KO shares. UBS Group decreased their price objective 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. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.19.

Coca-Cola Stock Performance

KO opened at $63.84 on Friday. The company has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.55 and a beta of 0.61. The company’s fifty day moving average price is $62.54 and its two-hundred day moving average price is $66.32. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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.