Sovran Advisors LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Sovran Advisors LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,641 shares of the company’s stock, valued at approximately $846,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Investment Advisory Group LLC boosted its position in Coca-Cola by 4.5% during 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 during the period. CCG Wealth Management LLC raised its stake in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. boosted its holdings in shares of 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 grew its stake in shares of Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after purchasing an additional 155 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its holdings in Coca-Cola by 1.6% during 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Stock Performance

Coca-Cola stock opened at $67.61 on Wednesday. The stock’s 50 day moving average is $62.55 and its 200 day moving average is $66.31. The company has a market capitalization of $291.27 billion, a P/E ratio of 27.94, a PEG ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.