Balentine LLC Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Balentine LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,408 shares of the company’s stock after selling 8,085 shares during the period. Balentine LLC’s holdings in Coca-Cola were worth $1,271,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KO. New Republic Capital LLC increased its position in Coca-Cola by 21.0% in the 4th quarter. New Republic Capital LLC now owns 8,523 shares of the company’s stock valued at $531,000 after acquiring an additional 1,482 shares during the period. Community Bank & Trust Waco Texas grew its stake in shares of Coca-Cola by 5.0% in the 4th quarter. Community Bank & Trust Waco Texas now owns 33,122 shares of the company’s stock valued at $2,062,000 after purchasing an additional 1,577 shares during the last quarter. Weatherly Asset Management L. P. increased its holdings in shares of Coca-Cola by 3.8% in the fourth quarter. Weatherly Asset Management L. P. now owns 99,362 shares of the company’s stock valued at $6,186,000 after purchasing an additional 3,679 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Coca-Cola by 525.2% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 7,971 shares of the company’s stock worth $496,000 after purchasing an additional 6,696 shares during the last quarter. Finally, Wealthcare Capital Partners LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $243,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 1.2 %

Shares of Coca-Cola stock opened at $64.58 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market cap of $278.18 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth 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 has a fifty day moving average price of $62.53 and a 200 day moving average price of $66.32.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group decreased their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Finally, Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

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.