The Coca-Cola Company (NYSE:KO) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 74,676 shares of the company’s stock after acquiring an additional 1,491 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Coca-Cola were worth $4,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC grew its stake in shares of Coca-Cola by 3.3% in the 3rd 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 during the last quarter. Wellington Management Group LLP grew its stake 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 purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. boosted its stake 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 valued at $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 shares of Coca-Cola by 1.4% in 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 in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Barclays decreased their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley decreased their price target 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. Wells Fargo & Company decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday. Two equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Stock Performance

NYSE KO opened at $63.84 on Friday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The business has a fifty day moving average of $62.53 and a 200-day moving average of $66.31. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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.