Cannon Financial Strategists Inc. Has $3.58 Million Position in The Coca-Cola Company (NYSE:KO)

Cannon Financial Strategists Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,566 shares of the company’s stock after acquiring an additional 831 shares during the quarter. Coca-Cola accounts for 0.6% of Cannon Financial Strategists Inc.’s portfolio, making the stock its 19th largest position. Cannon Financial Strategists Inc.’s holdings in Coca-Cola were worth $3,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Coca-Cola Price Performance

Shares of KO opened at $68.99 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a 50 day simple moving average of $63.27 and a 200 day simple moving average of $66.36. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a market capitalization of $297.20 billion, a PE ratio of 27.93, a P/E/G ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research reports. Morgan Stanley lifted 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, February 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

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.