The Coca-Cola Company (NYSE:KO) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in The Coca-Cola Company (NYSE:KO) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,715,945 shares of the company’s stock after selling 434,765 shares during the period. Coca-Cola comprises 1.5% of Truist Financial Corp’s portfolio, making the stock its 8th largest holding. Truist Financial Corp owned approximately 0.36% of Coca-Cola worth $978,475,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KO. FMR LLC increased its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC increased its position in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP increased its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. increased its position in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in Coca-Cola by 2.2% during the fourth quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock worth $997,480,000 after purchasing an additional 351,462 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on KO. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. DZ Bank upgraded shares of 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 Thursday. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Trading Down 0.9 %

NYSE KO opened at $68.85 on Monday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. 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 has a market capitalization of $296.59 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The company’s fifty day moving average price is $63.02 and its two-hundred day moving average price is $66.36.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal 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.