Carnegie Lake Advisors LLC Has $2.04 Million Position in The Coca-Cola Company (NYSE:KO)

Carnegie Lake Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,680 shares of the company’s stock after selling 800 shares during the period. Carnegie Lake Advisors LLC’s holdings in Coca-Cola were worth $2,035,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KO shares. UBS Group cut their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley decreased 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Price Performance

Shares of KO opened at $64.58 on Tuesday. 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 company’s fifty day simple moving average is $62.53 and its 200 day simple moving average is $66.32. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a market cap of $278.18 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.55 and a beta of 0.61.

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.