The Coca-Cola Company (NYSE:KO) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,666 shares of the company’s stock after selling 275 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Coca-Cola were worth $415,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased 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 purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC grew its holdings in shares of Coca-Cola by 3.3% in the 3rd 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 grew its holdings in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. grew its holdings 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 worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Coca-Cola by 1.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock worth $744,600,000 after acquiring an additional 166,199 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KO. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday. Two research 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 stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $69.48 on Friday. The business’s 50-day moving average price is $62.76 and its two-hundred day moving average price is $66.33. 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 one year low of $57.93 and a one year high of $73.53. The company has a market capitalization of $299.28 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results 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 return on equity of 44.01% and a net margin of 22.45%. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.