The Coca-Cola Company (NYSE:KO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 12.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,531 shares of the company’s stock after selling 3,722 shares during the period. Jennison Associates LLC’s holdings in Coca-Cola were worth $1,652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brookstone Capital Management boosted its stake in Coca-Cola by 2.8% during the 3rd quarter. Brookstone Capital Management now owns 81,458 shares of the company’s stock valued at $5,854,000 after purchasing an additional 2,216 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Coca-Cola during the 3rd quarter valued at about $338,000. CWM LLC boosted its stake in Coca-Cola by 9.4% during the 3rd quarter. CWM LLC now owns 434,719 shares of the company’s stock valued at $31,239,000 after purchasing an additional 37,483 shares during the period. Hexagon Capital Partners LLC boosted its stake in Coca-Cola by 1.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 16,865 shares of the company’s stock valued at $1,212,000 after purchasing an additional 208 shares during the period. Finally, Wedmont Private Capital boosted its stake in Coca-Cola by 4.2% during the 3rd quarter. Wedmont Private Capital now owns 44,557 shares of the company’s stock valued at $3,075,000 after purchasing an additional 1,813 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.4 %

NYSE KO opened at $63.37 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company’s 50 day simple moving average is $62.56 and its 200 day simple moving average is $66.34. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market capitalization of $272.96 billion, a P/E ratio of 26.18, a PEG ratio of 3.56 and a beta of 0.61.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KO shares. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola 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.