The Coca-Cola Company (NYSE:KO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,610,604 shares of the company’s stock after selling 115,676 shares during the period. Coca-Cola accounts for about 0.4% of Rhumbline Advisers’ holdings, making the stock its 27th biggest holding. Rhumbline Advisers owned approximately 0.18% of Coca-Cola worth $473,836,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP raised its position in 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 period. Franklin Resources Inc. lifted its stake in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Coca-Cola by 2.2% during the 4th quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock worth $997,480,000 after purchasing an additional 351,462 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.9 %

KO opened at $68.85 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a market cap of $296.59 billion, a P/E ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. The business’s 50-day simple moving average is $62.90 and its 200-day simple moving average is $66.36.

Coca-Cola (NYSE:KO) last announced its quarterly 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 net margin of 22.45% and a return on equity of 44.01%. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler lowered 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. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.