Blue Chip Partners LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Blue Chip Partners LLC decreased its position in The Coca-Cola Company (NYSE:KO) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,660 shares of the company’s stock after selling 1,091 shares during the period. Blue Chip Partners LLC’s holdings in Coca-Cola were worth $3,403,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings 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 acquiring an additional 11,206,995 shares during the period. Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% during the 3rd 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 period. Wellington Management Group LLP boosted its holdings in shares of 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 during the last quarter. Franklin Resources Inc. grew 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 valued at $1,990,407,000 after buying an additional 1,609,565 shares during the period. Finally, Vontobel Holding Ltd. increased its holdings 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 buying an additional 351,462 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $68.85 on Monday. 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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market capitalization of $296.59 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. The business’s fifty day moving average price is $63.02 and its 200-day moving average price is $66.36.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KO shares. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Evercore ISI boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Two equities research 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 stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.