Klingenstein Fields & Co. LP Decreases Stake in The Coca-Cola Company (NYSE:KO)

Klingenstein Fields & Co. LP lowered its position in The Coca-Cola Company (NYSE:KO) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,695 shares of the company’s stock after selling 670 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Coca-Cola were worth $1,973,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Coca-Cola by 4.0% in the 3rd quarter. Creative Planning now owns 1,852,532 shares of the company’s stock valued at $133,123,000 after acquiring an additional 70,604 shares during the period. McKinley Carter Wealth Services Inc. increased its holdings in shares of Coca-Cola by 24.0% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 10,094 shares of the company’s stock valued at $725,000 after acquiring an additional 1,955 shares during the period. Amplius Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 7.8% in the 3rd quarter. Amplius Wealth Advisors LLC now owns 9,049 shares of the company’s stock valued at $650,000 after acquiring an additional 654 shares during the period. Wolff Wiese Magana LLC increased its holdings in shares of Coca-Cola by 0.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 26,342 shares of the company’s stock valued at $1,893,000 after acquiring an additional 179 shares during the period. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of Coca-Cola by 1.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 113,071 shares of the company’s stock valued at $8,125,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

Coca-Cola stock opened at $69.48 on Friday. 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 firm’s 50-day simple moving average is $62.76 and its 200 day simple moving average is $66.33. The firm has a market capitalization of $299.28 billion, a PE ratio of 28.71, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola 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.