Centricity Wealth Management LLC Makes New $632,000 Investment in The Coca-Cola Company (NYSE:KO)

Centricity Wealth Management LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,147 shares of the company’s stock, valued at approximately $632,000.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group raised their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.03 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $63.54 and its 200-day simple moving average is $66.41. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $301.69 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly 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 net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

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.