Mcdonald Partners LLC Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Mcdonald Partners LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,891 shares of the company’s stock after selling 212 shares during the period. Mcdonald Partners LLC’s holdings in Coca-Cola were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the 3rd quarter valued at $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.2 %

KO opened at $68.99 on Wednesday. The firm has a 50-day simple moving average of $63.27 and a two-hundred day simple moving average of $66.36. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market capitalization of $297.19 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. 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 quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KO. JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

About Coca-Cola

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.