The Coca-Cola Company (NYSE:KO) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,064 shares of the company’s stock after selling 1,303 shares during the period. WASHINGTON TRUST Co’s holdings in Coca-Cola were worth $1,810,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creative Planning grew its stake in Coca-Cola by 4.0% in the third quarter. Creative Planning now owns 1,852,532 shares of the company’s stock worth $133,123,000 after purchasing an additional 70,604 shares in the last quarter. Greenup Street Wealth Management LLC bought a new position in Coca-Cola during the 3rd quarter worth approximately $234,000. Cardinal Capital Management grew its position in shares of Coca-Cola by 0.3% in the 3rd quarter. Cardinal Capital Management now owns 81,765 shares of the company’s stock worth $5,915,000 after acquiring an additional 220 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Coca-Cola by 14.9% in the 3rd quarter. Trust Co. of Vermont now owns 79,045 shares of the company’s stock valued at $5,680,000 after acquiring an additional 10,229 shares during the last quarter. Finally, Vista Investment Partners LLC raised its position in shares of Coca-Cola by 0.7% during the 3rd quarter. Vista Investment Partners LLC now owns 25,073 shares of the company’s stock valued at $1,802,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $68.85 on Friday. The firm has a market capitalization of $296.59 billion, a PE ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $62.90 and a 200 day moving average price of $66.36. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, UBS Group raised their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment 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 company. Based on data from MarketBeat, Coca-Cola presently 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.