WCM Investment Management LLC Purchases 38,017 Shares of The Coca-Cola Company (NYSE:KO)

WCM Investment Management LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 145.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,128 shares of the company’s stock after acquiring an additional 38,017 shares during the quarter. WCM Investment Management LLC’s holdings in Coca-Cola were worth $3,978,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KO. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the fourth quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

Shares of Coca-Cola stock opened at $63.84 on Monday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The business’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 PE ratio of 26.38, a P/E/G ratio of 3.55 and a beta of 0.61.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KO shares. Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Truist Financial upped 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. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.