Empirical Finance LLC Sells 1,798 Shares of The Coca-Cola Company (NYSE:KO)

Empirical Finance LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 132,709 shares of the company’s stock after selling 1,798 shares during the period. Empirical Finance LLC’s holdings in Coca-Cola were worth $8,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. FMR LLC boosted its stake in Coca-Cola by 13.7% in the third 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 boosted its stake 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 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 stake in Coca-Cola in the third quarter worth approximately $269,382,000. Geode Capital Management LLC boosted its stake 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 worth $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in Coca-Cola by 7,006.8% in the third 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. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO opened at $63.84 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 stock has a fifty day simple moving average of $62.53 and a two-hundred day simple moving average of $66.31. The company has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Piper Sandler dropped their price objective 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. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

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.