Stonebridge Financial Group LLC Takes $3.44 Million Position in The Coca-Cola Company (NYSE:KO)

Stonebridge Financial Group LLC purchased a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,307 shares of the company’s stock, valued at approximately $3,443,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Coca-Cola by 1.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock valued at $744,600,000 after buying an additional 166,199 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. 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 company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Price Performance

Shares of KO stock opened at $64.58 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company’s 50-day simple moving average is $62.53 and its two-hundred day simple moving average is $66.32. The company has a market capitalization of $278.18 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

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.