The Coca-Cola Company (NYSE:KO) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its position in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 700,107 shares of the company’s stock after selling 1,564 shares during the period. Coca-Cola accounts for 0.9% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 26th biggest position. Kornitzer Capital Management Inc. KS’s holdings in Coca-Cola were worth $43,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter worth about $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter worth about $43,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $37,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.9 %

Shares of Coca-Cola stock opened at $68.85 on Tuesday. The business has a 50 day moving average price of $63.02 and a 200 day moving average price of $66.36. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays boosted 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, February 13th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.