10,147 Shares in The Coca-Cola Company (NYSE:KO) Bought by Centricity Wealth Management LLC

Centricity Wealth Management LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 10,147 shares of the company’s stock, valued at approximately $632,000.

Several other institutional investors have also modified their holdings of the stock. Waterfront Wealth Inc. increased its position in shares of Coca-Cola by 3.8% during the fourth quarter. Waterfront Wealth Inc. now owns 19,307 shares of the company’s stock worth $1,202,000 after purchasing an additional 699 shares in the last quarter. Trinity Legacy Partners LLC boosted its stake in Coca-Cola by 1,457.9% during the 4th quarter. Trinity Legacy Partners LLC now owns 47,003 shares of the company’s stock worth $2,926,000 after purchasing an additional 43,986 shares during the last quarter. Financial Harvest LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $962,000. Tandem Investment Advisors Inc. raised its position in shares of Coca-Cola by 6.3% in the fourth quarter. Tandem Investment Advisors Inc. now owns 10,143 shares of the company’s stock valued at $632,000 after buying an additional 603 shares during the last quarter. Finally, Capital Investment Counsel Inc lifted its stake in shares of Coca-Cola by 5.5% in the fourth quarter. Capital Investment Counsel Inc now owns 129,456 shares of the company’s stock worth $8,060,000 after buying an additional 6,801 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $70.03 on Friday. The firm has a 50-day simple moving average of $63.54 and a two-hundred day simple moving average of $66.41. The stock has a market cap of $301.69 billion, a PE ratio of 28.35, a P/E/G ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

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

Analysts Set New Price Targets

Several analysts recently issued reports on KO shares. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Piper Sandler dropped their price target 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. Barclays lifted their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Evercore ISI raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

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.