Buckingham Capital Management Inc. Acquires 902 Shares of The Coca-Cola Company (NYSE:KO)

Buckingham Capital Management Inc. lifted its position in The Coca-Cola Company (NYSE:KO) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,884 shares of the company’s stock after purchasing an additional 902 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Coca-Cola were worth $2,047,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KO. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. 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 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Stock Down 0.9 %

NYSE KO opened at $68.85 on Tuesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a market cap of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The business has a fifty day moving average price of $63.02 and a 200 day moving average price of $66.36. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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.