Miller Howard Investments Inc. NY Reduces Stake in The Coca-Cola Company (NYSE:KO)

Miller Howard Investments Inc. NY cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,110,136 shares of the company’s stock after selling 95,090 shares during the quarter. Coca-Cola accounts for about 2.3% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 13th largest holding. Miller Howard Investments Inc. NY’s holdings in Coca-Cola were worth $69,117,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola during the fourth quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KO. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler cut their price objective 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 decreased their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced 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 report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their target price 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 7th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Price Performance

Shares of KO opened at $63.84 on Friday. The firm has a 50-day simple moving average of $62.53 and a two-hundred day simple moving average of $66.31. 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 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 $275.03 billion, a PE ratio of 26.38, a P/E/G ratio of 3.55 and a beta of 0.61.

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.