Chemung Canal Trust Co. Raises Stake in The Coca-Cola Co (KO)
Chemung Canal Trust Co. raised its position in shares of The Coca-Cola Co (NYSE:KO) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,963 shares of the company’s stock after acquiring an additional 30,808 shares during the period. The Coca-Cola makes up approximately 2.8% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 8th largest position. Chemung Canal Trust Co.’s holdings in The Coca-Cola were worth $9,847,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Moller Financial Services bought a new stake in shares of The Coca-Cola during the fourth quarter worth approximately $292,000. CX Institutional bought a new stake in shares of The Coca-Cola during the fourth quarter worth approximately $928,000. Ancora Advisors LLC boosted its holdings in shares of The Coca-Cola by 21.0% during the third quarter. Ancora Advisors LLC now owns 51,438 shares of the company’s stock worth $2,377,000 after acquiring an additional 8,941 shares during the period. Man Group plc boosted its holdings in shares of The Coca-Cola by 34.2% during the third quarter. Man Group plc now owns 617,032 shares of the company’s stock worth $28,501,000 after acquiring an additional 157,187 shares during the period. Finally, First PREMIER Bank boosted its holdings in shares of The Coca-Cola by 1.4% during the fourth quarter. First PREMIER Bank now owns 44,267 shares of the company’s stock worth $2,097,000 after acquiring an additional 607 shares during the period. Institutional investors own 65.54% of the company’s stock.
NYSE KO opened at $49.50 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84. The firm has a market cap of $211.16 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.02 and a beta of 0.53.
A number of brokerages have recently issued reports on KO. Royal Bank of Canada restated a “buy” rating and set a $56.00 price objective on shares of The Coca-Cola in a report on Monday, November 19th. Macquarie reiterated a “neutral” rating and issued a $50.00 price target on shares of The Coca-Cola in a research note on Tuesday, December 4th. Citigroup set a $56.00 price target on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, November 9th. Bank of America set a $55.00 price target on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, December 14th. Finally, UBS Group reiterated a “neutral” rating and issued a $51.00 price target (up from $50.00) on shares of The Coca-Cola in a research note on Thursday, December 13th. Fourteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.64.
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The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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