Sovran Advisors LLC Invests in The Coca-Cola Company

Sovran Advisors LLC has made a new investment in The Coca-Cola Company (NYSE:KO) during the fourth quarter. According to their latest Form 13F filing with the SEC, the firm acquired 13,641 shares of Coca-Cola, valued at around $846,000.

Changes in Investment Positions

Recently, several other hedge funds and institutional investors have also adjusted their holdings in Coca-Cola. For instance, Investment Advisory Group LLC increased its position by 4.5% in the third quarter, now owning 3,378 shares valued at $243,000 after purchasing an additional 146 shares. Similarly, CCG Wealth Management LLC raised its stake by 4.3%, ending up with 3,614 shares worth $260,000 after acquiring 149 more shares. Investment Partners Asset Management Inc. saw a 2.2% increase during the same period and now holds 6,956 shares valued at $500,000 after adding 150 shares. Blossom Wealth Management‘s stake grew by 3.3%, and they now possess 4,890 shares valued at $351,000 after buying 155 additional shares. Finally, Strategic Investment Solutions Inc. IL increased their holdings by 1.6%, concluding the quarter with 9,993 shares valued at $718,000 after purchasing an extra 159 shares. Overall, about 70.26% of Coca-Cola's stock is owned by institutional investors and hedge funds.

Stock Ratings and Price Targets

The Coca-Cola stock has recently attracted attention from various Wall Street analysts. Analysts from Wells Fargo & Company lowered their price target from $75.00 to $70.00, maintaining an "overweight" rating. Conversely, Jefferies Financial Group upgraded Coca-Cola from a "hold" to a "buy" rating, raising their price target from $69.00 to $75.00. Barclays reduced their price target from $73.00 to $66.00 while keeping an "overweight" rating. Deutsche Bank upgraded Coca-Cola from a "hold" to a "buy" rating, setting a new price objective of $70.00 from a previous $68.00. Finally, JPMorgan Chase & Co. decreased their target from $75.00 to $70.00 while retaining their "overweight" rating. In total, two analysts have a hold rating, sixteen have a buy rating, and one assigned a strong buy, leading to a consensus rating of "Moderate Buy" with an average price target of $72.19.

Coca-Cola Stock Performance Overview

On Wednesday, Coca-Cola stock opened at $67.61. Its 50-day moving average is $62.55, and the 200-day moving average stands at $66.31. Coca-Cola holds a market capitalization of $291.27 billion, with a P/E ratio of 27.94 and a PEG ratio of 3.55. The stock has fluctuated between a twelve-month low of $57.93 and a high of $73.53. The company also has a quick ratio of 0.90, a current ratio of 1.06, and a debt-to-equity ratio of 1.53.

Earnings Report Insights

The Coca-Cola Company reported its earnings on February 11, revealing an EPS of $0.55 for the quarter, surpassing the analysts' consensus estimate of $0.51 by $0.04. The company has demonstrated a return on equity of 44.01% and a net margin of 22.45%. Analysts predict that Coca-Cola will record an EPS of 2.85 for the current fiscal year.

About The Coca-Cola Company

The Coca-Cola Company is a global beverage leader that manufactures, markets, and sells a diverse range of nonalcoholic beverages. Its offerings include sparkling soft drinks, flavored sparkling beverages, water, sports drinks, coffee, tea, juices, value-added dairy products, and other beverages. Additionally, Coca-Cola produces beverage concentrates and syrups, supplying them to retailers like restaurants and convenience stores.

Investment, Coca-Cola, Hedge Funds