The Coca-Cola Company (NYSE:KO) Shares Acquired by Capital Investment Counsel Inc

Capital Investment Counsel Inc grew its holdings in The Coca-Cola Company (NYSE:KO) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,456 shares of the company’s stock after purchasing an additional 6,801 shares during the quarter. Coca-Cola makes up approximately 1.2% of Capital Investment Counsel Inc’s portfolio, making the stock its 12th largest holding. Capital Investment Counsel Inc’s holdings in Coca-Cola were worth $8,060,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the third quarter worth approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on KO shares. UBS Group raised their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.03 on Friday. The company’s fifty day simple moving average is $63.54 and its 200-day simple moving average is $66.41. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company has a market cap of $301.69 billion, a PE ratio of 28.35, a P/E/G ratio of 3.74 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities research analysts anticipate 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.