Truist Financial Corp Sells 434,765 Shares of The Coca-Cola Company (NYSE:KO)

Truist Financial Corp lessened its position in The Coca-Cola Company (NYSE:KO) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,715,945 shares of the company’s stock after selling 434,765 shares during the period. Coca-Cola makes up 1.5% of Truist Financial Corp’s portfolio, making the stock its 8th biggest position. Truist Financial Corp’s holdings in Coca-Cola were worth $978,475,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of KO. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KO. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler decreased 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. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two investment 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 company’s stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

Shares of KO opened at $68.85 on Monday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a 50-day moving average of $63.02 and a two-hundred day moving average of $66.36. The stock has a market cap of $296.59 billion, a price-to-earnings 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 current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly 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 net margin of 22.45% and a return on equity of 44.01%. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

About Coca-Cola

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.