Kornitzer Capital Management Inc. KS Has $43.59 Million Stake in The Coca-Cola Company (NYSE:KO)

Kornitzer Capital Management Inc. KS reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 700,107 shares of the company’s stock after selling 1,564 shares during the quarter. Coca-Cola makes up approximately 0.9% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 26th largest position. Kornitzer Capital Management Inc. KS’s holdings in Coca-Cola were worth $43,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $68.85 on Tuesday. The firm has a market cap of $296.59 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The business’s fifty day moving average is $63.02 and its 200-day moving average is $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 debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered 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 28th. Finally, Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.