Empowered Funds LLC Buys 25,176 Shares of The Coca-Cola Company (NYSE:KO)

Empowered Funds LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,142 shares of the company’s stock after acquiring an additional 25,176 shares during the quarter. Empowered Funds LLC’s holdings in Coca-Cola were worth $14,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. Ferguson Shapiro LLC raised its holdings in Coca-Cola by 26.2% in the 3rd quarter. Ferguson Shapiro LLC now owns 12,191 shares of the company’s stock valued at $876,000 after buying an additional 2,533 shares during the last quarter. Walker Financial Services Inc. raised its holdings in Coca-Cola by 5.6% in the 3rd quarter. Walker Financial Services Inc. now owns 28,181 shares of the company’s stock valued at $2,025,000 after buying an additional 1,500 shares during the last quarter. Juncture Wealth Strategies LLC bought a new position in Coca-Cola in the 3rd quarter valued at approximately $320,000. LongView Wealth Management raised its holdings in Coca-Cola by 0.7% in the 3rd quarter. LongView Wealth Management now owns 43,373 shares of the company’s stock valued at $3,117,000 after buying an additional 312 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Coca-Cola by 49.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 126,017 shares of the company’s stock valued at $9,054,000 after buying an additional 41,630 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.84 on Friday. The company 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50 day moving average of $62.53 and a 200-day moving average of $66.31.

Analysts Set New Price Targets

A number of research 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 report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays decreased their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.19.

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.