Birch Hill Investment Advisors LLC Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Birch Hill Investment Advisors LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,426 shares of the company’s stock after selling 1,110 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Coca-Cola were worth $6,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Harvest Portfolios Group Inc. bought a new position in Coca-Cola during the third quarter valued at $18,383,000. Balentine LLC lifted its stake in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the last quarter. Rice Partnership LLC boosted its position in shares of Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their price target 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 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. UBS Group dropped their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $63.84 on Friday. The firm has a market capitalization of $275.03 billion, a P/E ratio of 26.38, a PEG 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 company has a 50 day moving average price of $62.53 and a 200 day moving average price of $66.31.

About Coca-Cola

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.