Pathway Financial Advisers LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Pathway Financial Advisers LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 98.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,446 shares of the company’s stock after selling 2,444,041 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Coca-Cola were worth $2,145,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KO. FMR LLC lifted its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP increased its holdings in Coca-Cola by 14.5% in 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 in the last quarter. Franklin Resources Inc. raised its position in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coca-Cola by 1.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock worth $744,600,000 after acquiring an additional 166,199 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KO shares. JPMorgan Chase & Co. cut their price target on 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 upgraded 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. Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research 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. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $73.41.

Coca-Cola Stock Performance

NYSE KO opened at $68.73 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s fifty day moving average is $62.76 and its two-hundred day moving average is $66.33. The firm has a market capitalization of $296.08 billion, a P/E 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 fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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

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.