The Coca-Cola Company (NYSE:KO) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,140,681 shares of the company’s stock after selling 48,573 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Coca-Cola were worth $133,279,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Partners Asset Management Inc. raised its holdings in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares in the last quarter. Blossom Wealth Management raised its holdings in Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Coca-Cola by 1.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after acquiring an additional 159 shares in the last quarter. DeDora Capital Inc. raised its holdings in Coca-Cola by 3.4% in the third quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock valued at $352,000 after acquiring an additional 160 shares in the last quarter. Finally, Freedom Day Solutions LLC raised its holdings in Coca-Cola by 1.1% in the third quarter. Freedom Day Solutions LLC now owns 14,229 shares of the company’s stock valued at $1,022,000 after acquiring an additional 160 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO stock opened at $69.48 on Friday. The company has a market capitalization of $299.28 billion, a P/E ratio of 28.71, a PEG ratio of 3.55 and a beta of 0.61. The company has a 50-day simple moving average of $62.76 and a 200 day simple moving average of $66.33. 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.

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

Analyst Ratings Changes

Several research firms recently issued reports on KO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 research note on Thursday. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Two equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

About Coca-Cola

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.