Wingate Wealth Advisors Inc. Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Wingate Wealth Advisors Inc. acquired a new stake in The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,905 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds have also bought and sold shares of the business. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $64.58 on Tuesday. The company has a market cap of $278.18 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The company has a 50-day moving average price of $62.53 and a 200-day moving average price of $66.32. 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 Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

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.