Beacon Financial Group Reduces Position in The Coca-Cola Company (NYSE:KO)

Beacon Financial Group decreased its position in The Coca-Cola Company (NYSE:KO) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 71,695 shares of the company’s stock after selling 466 shares during the period. Beacon Financial Group’s holdings in Coca-Cola were worth $4,464,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter worth $37,000. MilWealth Group LLC bought a new stake in Coca-Cola in the fourth quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the 3rd quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KO shares. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.19.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $67.61 on Wednesday. The stock has a market cap of $291.27 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s fifty day moving average is $62.55 and its 200 day moving average is $66.31. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.