Braun Stacey Associates Inc. Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Braun Stacey Associates Inc. lowered its position in The Coca-Cola Company (NYSE:KO) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 308,500 shares of the company’s stock after selling 4,940 shares during the period. Braun Stacey Associates Inc.’s holdings in Coca-Cola were worth $19,207,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Wellington Management Group LLP increased its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. raised its stake in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Coca-Cola by 2.2% in the 4th quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock valued at $997,480,000 after purchasing an additional 351,462 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.9 %

KO opened at $68.85 on Tuesday. The business’s 50-day simple moving average is $63.02 and its 200-day simple moving average is $66.36. The company has a market cap of $296.59 billion, a P/E ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, TD Cowen upgraded shares of 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. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.