Trinity Legacy Partners LLC Has $2.93 Million Holdings in The Coca-Cola Company (NYSE:KO)

Trinity Legacy Partners LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 1,457.9% during the 4th quarter, HoldingsChannel reports. The fund owned 47,003 shares of the company’s stock after purchasing an additional 43,986 shares during the period. Trinity Legacy Partners LLC’s holdings in Coca-Cola were worth $2,926,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in Coca-Cola by 13.7% in the third 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 last quarter. Geode Capital Management LLC increased its stake in shares of 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 during the period. Wellington Management Group LLP boosted its position in Coca-Cola by 14.5% during 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 during the period. Franklin Resources Inc. grew its holdings in Coca-Cola by 6.1% during the 3rd 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 last quarter. Finally, Vontobel Holding Ltd. increased its position in Coca-Cola by 2.2% in the 4th quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock valued at $997,480,000 after acquiring an additional 351,462 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. UBS Group increased their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price 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’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

KO stock opened at $70.03 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company’s 50-day moving average is $63.54 and its 200-day moving average is $66.41. The stock has a market capitalization of $301.69 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 3.79 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.

Coca-Cola (NYSE:KO) last announced 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 return on equity of 45.37% and a net margin of 22.59%. Equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

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.