Lee Financial Co Sells 657 Shares of The Coca-Cola Company (NYSE:KO)

Lee Financial Co lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,804 shares of the company’s stock after selling 657 shares during the quarter. Lee Financial Co’s holdings in Coca-Cola were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in Coca-Cola by 13.7% in the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP increased its position 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 purchasing an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. raised its stake 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 purchasing an additional 1,609,565 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted 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 valued at $997,480,000 after purchasing an additional 351,462 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.9 %

Shares of NYSE KO opened at $68.85 on Friday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm 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 stock has a 50 day moving average price of $63.02 and a 200 day moving average price of $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday. 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. 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 research report on Thursday, December 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

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.