Financial Advocates Investment Management Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Financial Advocates Investment Management increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,770 shares of the company’s stock after acquiring an additional 1,551 shares during the quarter. Financial Advocates Investment Management’s holdings in Coca-Cola were worth $1,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC raised its position in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the last quarter. Rice Partnership LLC grew its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Finally, Fiduciary Alliance LLC increased its position in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group decreased their target price 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. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Stock Up 0.4 %

Shares of NYSE:KO opened at $63.37 on Friday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm’s 50 day moving average price is $62.56 and its 200 day moving average price is $66.34. 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 stock has a market cap of $272.96 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

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.