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

Balentine LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 28.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,408 shares of the company’s stock after selling 8,085 shares during the quarter. Balentine LLC’s holdings in Coca-Cola were worth $1,271,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target 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, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $64.58 on Tuesday. The firm has a market capitalization of $278.18 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm’s 50 day moving average is $62.53 and its two-hundred day moving average is $66.32.

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.