Beacon Capital Management LLC Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Beacon Capital Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,406 shares of the company’s stock after selling 367 shares during the period. Beacon Capital Management LLC’s holdings in Coca-Cola were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of KO. TigerOak Management L.L.C. acquired a new position in Coca-Cola during the fourth quarter worth $821,000. Congress Asset Management Co. purchased a new stake in shares of Coca-Cola during the 4th quarter worth $1,304,000. Roxbury Financial LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth $999,000. Empire Life Investments Inc. purchased a new position in shares of Coca-Cola in the 4th quarter valued at about $2,706,000. Finally, BXM Wealth LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $211,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.9 %

Shares of KO 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 market capitalization of $296.59 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The stock has a fifty day moving average of $63.02 and a two-hundred day moving average of $66.37. 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 earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on KO. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Evercore ISI boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average 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.