CapWealth Advisors LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

CapWealth Advisors LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,040 shares of the company’s stock after selling 1,698 shares during the quarter. CapWealth Advisors LLC’s holdings in Coca-Cola were worth $11,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KO. Empire Life Investments Inc. purchased a new position in shares of Coca-Cola during the fourth quarter worth about $2,706,000. BXM Wealth LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $211,000. PUREfi Wealth LLC acquired a new position in Coca-Cola during the fourth quarter worth approximately $274,000. Bank Pictet & Cie Europe AG lifted its stake in Coca-Cola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after buying an additional 2,072 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Coca-Cola by 221.0% in the fourth quarter. Blue Trust Inc. now owns 966,554 shares of the company’s stock valued at $60,178,000 after acquiring an additional 665,485 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.9 %

Shares of KO stock opened at $68.85 on Friday. 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 quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $62.90 and a 200-day simple moving average of $66.36. The stock has a market cap of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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%. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. TD Cowen upgraded shares of 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. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.