Sovran Advisors LLC Takes $846,000 Position in The Coca-Cola Company (NYSE:KO)

Sovran Advisors LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 13,641 shares of the company’s stock, valued at approximately $846,000.

Several other large investors also recently bought and sold shares of KO. Stonebridge Financial Group LLC bought a new stake in Coca-Cola in the 4th quarter worth approximately $3,443,000. First Fiduciary Investment Counsel Inc. boosted its stake in shares of Coca-Cola by 4.5% in the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 180,157 shares of the company’s stock worth $11,217,000 after buying an additional 7,736 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Coca-Cola by 2.4% in the fourth quarter. Focus Financial Network Inc. now owns 28,038 shares of the company’s stock worth $1,746,000 after acquiring an additional 658 shares during the period. Sapient Capital LLC increased its position in Coca-Cola by 0.6% during the fourth quarter. Sapient Capital LLC now owns 317,013 shares of the company’s stock valued at $19,737,000 after acquiring an additional 1,846 shares during the last quarter. Finally, Paladin Wealth LLC lifted its holdings in Coca-Cola by 17.4% in the fourth quarter. Paladin Wealth LLC now owns 12,566 shares of the company’s stock valued at $782,000 after acquiring an additional 1,861 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KO shares. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Stock Up 4.7 %

Shares of KO opened at $67.61 on Wednesday. The business’s 50 day moving average is $62.55 and its 200 day moving average is $66.31. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $291.27 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola 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.