Rhumbline Advisers Reduces Position in The Coca-Cola Company (NYSE:KO)

Rhumbline Advisers lowered its position in The Coca-Cola Company (NYSE:KO) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,610,604 shares of the company’s stock after selling 115,676 shares during the period. Coca-Cola comprises approximately 0.4% of Rhumbline Advisers’ holdings, making the stock its 27th largest position. Rhumbline Advisers’ holdings in Coca-Cola were worth $473,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. PUREfi Wealth LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $274,000. Bank Pictet & Cie Europe AG grew its position in Coca-Cola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock worth $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Blue Trust Inc. grew its position in Coca-Cola by 221.0% during the 4th quarter. Blue Trust Inc. now owns 966,554 shares of the company’s stock worth $60,178,000 after purchasing an additional 665,485 shares during the last quarter. Asset Planning Inc acquired a new position in Coca-Cola in the fourth quarter valued at $412,000. Finally, Banque Pictet & Cie SA raised its holdings in shares of Coca-Cola by 0.9% in the fourth quarter. Banque Pictet & Cie SA now owns 114,363 shares of the company’s stock valued at $7,120,000 after buying an additional 1,011 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KO shares. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Barclays lifted their target price on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lifted 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Performance

NYSE KO opened at $68.85 on Friday. The business has a 50 day moving average price of $62.90 and a 200 day moving average price of $66.36. The company has a market capitalization of $296.59 billion, a P/E ratio of 28.45, a PEG 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 announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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.