The Coca-Cola Company (NYSE:KO) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 239,487 shares of the company’s stock after selling 4,633 shares during the period. Coca-Cola makes up 0.5% of Hartford Investment Management Co.’s investment portfolio, making the stock its 29th biggest position. Hartford Investment Management Co.’s holdings in Coca-Cola were worth $14,910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $18,383,000. Balentine LLC boosted its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Rice Partnership LLC boosted its position in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KO. JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $67.61 on Wednesday. The business’s fifty day moving average price is $62.55 and its two-hundred day moving average price is $66.31. The stock has a market cap of $291.27 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. 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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results 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 return on equity of 44.01% and a net margin of 22.45%. On average, analysts forecast that The Coca-Cola Company will post 2.85 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.