New Mexico Educational Retirement Board cut its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 184,920 shares of the company’s stock after selling 4,700 shares during the period. Coca-Cola accounts for 0.4% of New Mexico Educational Retirement Board’s holdings, making the stock its 29th biggest holding. New Mexico Educational Retirement Board’s holdings in Coca-Cola were worth $11,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the stock. Investment Partners Asset Management Inc. boosted its stake in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. Blossom Wealth Management boosted its stake in shares of Coca-Cola by 3.3% during the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of Coca-Cola by 1.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after purchasing an additional 159 shares in the last quarter. DeDora Capital Inc. boosted its stake in shares of Coca-Cola by 3.4% during the third quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after purchasing an additional 160 shares in the last quarter. Finally, Freedom Day Solutions LLC boosted its stake in Coca-Cola by 1.1% in the third quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock valued at $1,022,000 after acquiring an additional 160 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Trading Down 0.9 %
Shares of Coca-Cola stock opened at $68.85 on Friday. 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 firm has a fifty day moving average price of $62.90 and a 200 day moving average price of $66.36. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market cap of $296.59 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.
Analyst Upgrades and Downgrades
KO has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $73.82.
Get Our Latest Stock Report on KO
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.
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