The Coca-Cola Company (NYSE:KO) Holdings Lowered by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 66.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,774 shares of the company’s stock after selling 9,548 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Coca-Cola were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. Finally, MilWealth Group LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $40,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KO shares. 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 research note on Thursday. Piper Sandler lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

Shares of KO opened at $68.85 on Friday. The company has a market capitalization of $296.59 billion, a PE ratio of 28.45, a PEG 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 company’s 50 day moving average price is $62.90 and its 200 day moving average price is $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 released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.