CIBC Asset Management Inc Purchases 26,711 Shares of The Coca-Cola Company (NYSE:KO)

CIBC Asset Management Inc lifted its position in The Coca-Cola Company (NYSE:KO) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 877,513 shares of the company’s stock after acquiring an additional 26,711 shares during the quarter. CIBC Asset Management Inc’s holdings in Coca-Cola were worth $54,617,000 as of its most recent SEC filing.

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

Coca-Cola Stock Down 0.9 %

KO stock opened at $68.85 on Monday. The company has a market cap of $296.59 billion, a price-to-earnings 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 business’s 50-day moving average is $63.02 and its two-hundred day moving average is $66.36. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. As a group, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. 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 research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

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.