Ingalls & Snyder LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,823 shares of the company’s stock after selling 1,156 shares during the period. Ingalls & Snyder LLC’s holdings in Coca-Cola were worth $4,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. FMR LLC grew its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP grew its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC grew its stake in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after buying an additional 2,443,612 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.7 %

Shares of NYSE KO opened at $68.73 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $66.32. The firm has a market capitalization of $296.08 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

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

Analyst Upgrades and Downgrades

KO has been the subject of a number of research reports. 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 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 objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays cut their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

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.