Allworth Financial LP Purchases 67,342 Shares of The Coca-Cola Company (NYSE:KO)

Allworth Financial LP increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 525,859 shares of the company’s stock after acquiring an additional 67,342 shares during the period. Allworth Financial LP’s holdings in Coca-Cola were worth $32,488,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harvest Portfolios Group Inc. bought a new position in Coca-Cola in the third quarter valued at about $18,383,000. Balentine LLC raised its holdings in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the period. Rice Partnership LLC lifted its position in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake 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 increased its holdings in Coca-Cola by 87.7% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $68.85 on Friday. The stock has a market cap of $296.59 billion, a PE ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a 50-day moving average of $63.02 and a 200-day moving average of $66.37.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KO shares. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

About Coca-Cola

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.