Forbes J M & Co. LLP Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Forbes J M & Co. LLP increased its stake in The Coca-Cola Company (NYSE:KO) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 236,691 shares of the company’s stock after buying an additional 783 shares during the quarter. Coca-Cola makes up about 1.4% of Forbes J M & Co. LLP’s portfolio, making the stock its 21st largest position. Forbes J M & Co. LLP’s holdings in Coca-Cola were worth $14,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola in the third quarter worth $18,383,000. Balentine LLC increased its position in shares of Coca-Cola by 92.4% during the 3rd 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 last quarter. Rice Partnership LLC raised its stake in shares of Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC lifted its stake in Coca-Cola by 87.7% in the fourth 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. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO opened at $63.84 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $275.03 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.55 and a beta of 0.61. The stock has a fifty day simple moving average of $62.54 and a two-hundred day simple moving average of $66.32. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Wall Street Analyst Weigh In

Several research firms have recently commented on KO. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday. Wells Fargo & Company decreased 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 7th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.