The Coca-Cola Company (NYSE:KO) Shares Purchased by Conning Inc.

Conning Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 611,599 shares of the company’s stock after buying an additional 72,993 shares during the quarter. Coca-Cola accounts for approximately 1.3% of Conning Inc.’s portfolio, making the stock its 8th largest holding. Conning Inc.’s holdings in Coca-Cola were worth $38,078,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KO. FMR LLC grew its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC lifted 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 in the last quarter. Wellington Management Group LLP grew its position in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Coca-Cola by 6.1% during the 3rd 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 in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Coca-Cola by 1.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock worth $744,600,000 after purchasing an additional 166,199 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $63.84 on Friday. The stock has a market capitalization of $275.03 billion, a P/E ratio of 26.38, a PEG ratio of 3.56 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business’s fifty day moving average price is $62.54 and its 200 day moving average price is $66.32. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KO shares. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. UBS Group decreased their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, 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 report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.19.

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.