Blue Chip Partners LLC Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Blue Chip Partners LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,660 shares of the company’s stock after selling 1,091 shares during the quarter. Blue Chip Partners LLC’s holdings in Coca-Cola were worth $3,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC grew its stake in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the period. Franklin Resources Inc. increased its position in Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in Coca-Cola by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock worth $997,480,000 after buying an additional 351,462 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $68.85 on Monday. 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 stock’s 50-day moving average price is $63.02 and its 200-day moving average price is $66.36. The stock has a market capitalization of $296.59 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KO. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. DZ Bank 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 Thursday. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has a consensus 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.