Cidel Asset Management Inc. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Cidel Asset Management Inc. lifted its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,949 shares of the company’s stock after purchasing an additional 201 shares during the period. Cidel Asset Management Inc.’s holdings in Coca-Cola were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Investment Advisory Group LLC increased its position in shares of Coca-Cola by 4.5% in the third 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 in the last quarter. CCG Wealth Management LLC grew its stake in Coca-Cola by 4.3% in the 3rd 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 period. Investment Partners Asset Management Inc. increased its holdings in Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares in the last quarter. Blossom Wealth Management raised its position in Coca-Cola by 3.3% during the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after acquiring an additional 155 shares during the period. Finally, Strategic Investment Solutions Inc. IL lifted its holdings in Coca-Cola by 1.6% during the third 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 in 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 firms have recently commented on KO. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Price Performance

NYSE:KO opened at $63.84 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock’s fifty day moving average is $62.54 and its two-hundred day moving average is $66.32. The company has a market capitalization of $275.03 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.56 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 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.