J.P. Marvel Investment Advisors LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

J.P. Marvel Investment Advisors LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,793 shares of the company’s stock after selling 796 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Coca-Cola were worth $4,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KO. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter worth about $37,000. MilWealth Group LLC purchased a new position in Coca-Cola in the fourth quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter worth about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $68.85 on Friday. The company has a 50 day moving average price of $63.02 and a 200-day moving average price of $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $296.59 billion, a PE ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on KO. Barclays lifted their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler dropped their price target 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. Finally, Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.82.

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.