Angeles Wealth Management LLC Raises Stake in The Coca-Cola Company (NYSE:KO)

Angeles Wealth Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 11.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,275 shares of the company’s stock after buying an additional 1,556 shares during the quarter. Angeles Wealth Management LLC’s holdings in Coca-Cola were worth $951,000 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 bought a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the third quarter valued at $43,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO opened at $63.84 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock’s 50 day simple moving average is $62.53 and its 200 day simple moving average is $66.32. The firm 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KO shares. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays cut their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group lowered 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 report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.