Hidden Cove Wealth Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Hidden Cove Wealth Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,399 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC grew its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 1.7 %

Coca-Cola stock opened at $68.73 on Thursday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company’s fifty day moving average price is $62.63 and its two-hundred day moving average price is $66.32. The company has a market capitalization of $296.08 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Morgan Stanley raised their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two research 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 data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Coca-Cola 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.