Stonebridge Financial Group LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Stonebridge Financial Group LLC bought a new position in The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 55,307 shares of the company’s stock, valued at approximately $3,443,000.

Several other hedge funds have also added to or reduced their stakes in the business. Annex Advisory Services LLC grew its holdings in shares of Coca-Cola by 11.3% in the third quarter. Annex Advisory Services LLC now owns 7,558 shares of the company’s stock worth $543,000 after purchasing an additional 769 shares during the last quarter. Carnegie Investment Counsel grew its holdings in Coca-Cola by 0.9% in the 3rd quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock worth $5,927,000 after acquiring an additional 761 shares during the last quarter. Rise Advisors LLC increased its position in shares of Coca-Cola by 2.8% in the third quarter. Rise Advisors LLC now owns 7,762 shares of the company’s stock valued at $558,000 after acquiring an additional 214 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in shares of Coca-Cola by 41.3% during the third quarter. Redhawk Wealth Advisors Inc. now owns 8,464 shares of the company’s stock valued at $608,000 after acquiring an additional 2,475 shares during the last quarter. Finally, Willis Investment Counsel boosted its holdings in shares of Coca-Cola by 6.2% during the third quarter. Willis Investment Counsel now owns 11,040 shares of the company’s stock worth $793,000 after purchasing an additional 643 shares during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.19.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $64.58 on Tuesday. The firm’s 50 day moving average price is $62.53 and its 200-day moving average price is $66.32. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $278.18 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

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.