Americana Partners LLC Lowers Stake in The Coca-Cola Company (NYSE:KO)

Americana Partners LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,342 shares of the company’s stock after selling 998 shares during the period. Americana Partners LLC’s holdings in Coca-Cola were worth $5,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola during the fourth quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter worth $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on KO. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays increased their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Two 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Price Performance

Shares of KO opened at $68.85 on Monday. The business’s 50-day moving average is $63.02 and its two-hundred day moving average is $66.36. The company has a market capitalization of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. 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 fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current 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.