Coho Partners Ltd. Lowers Position in The Coca-Cola Company (NYSE:KO)

Coho Partners Ltd. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 789,973 shares of the company’s stock after selling 339,220 shares during the quarter. Coca-Cola comprises about 2.3% of Coho Partners Ltd.’s investment portfolio, making the stock its 26th largest holding. Coho Partners Ltd.’s holdings in Coca-Cola were worth $49,184,000 at the end of the most recent reporting period.

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

Coca-Cola Stock Performance

KO opened at $69.48 on Friday. The business has a fifty day simple moving average of $62.76 and a 200 day simple moving average of $66.33. The company has a market capitalization of $299.28 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KO shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

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.