Coho Partners Ltd. Sells 339,220 Shares of The Coca-Cola Company (NYSE:KO)

Coho Partners Ltd. reduced its stake in The Coca-Cola Company (NYSE:KO) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 789,973 shares of the company’s stock after selling 339,220 shares during the period. Coca-Cola makes up about 2.3% of Coho Partners Ltd.’s holdings, making the stock its 26th largest holding. Coho Partners Ltd.’s holdings in Coca-Cola were worth $49,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in KO. Asset Planning Inc purchased a new position in Coca-Cola during the 4th quarter valued at about $412,000. Banque Pictet & Cie SA raised its stake in Coca-Cola by 0.9% during the 4th quarter. Banque Pictet & Cie SA now owns 114,363 shares of the company’s stock valued at $7,120,000 after buying an additional 1,011 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Coca-Cola by 13.7% during the 4th quarter. V Square Quantitative Management LLC now owns 84,912 shares of the company’s stock valued at $5,287,000 after buying an additional 10,228 shares during the last quarter. First Merchants Corp increased its stake in shares of Coca-Cola by 11.4% in the 4th quarter. First Merchants Corp now owns 35,150 shares of the company’s stock worth $2,188,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. purchased a new stake in Coca-Cola in the 4th quarter worth $216,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KO shares. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen 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 Wednesday, January 8th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. 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 company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.1 %

Coca-Cola stock opened at $69.48 on Friday. The stock has a market cap of $299.28 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.55 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company’s 50-day moving average price is $62.76 and its two-hundred day moving average price is $66.33. 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 announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS 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.