Violich Capital Management Inc. Lowers Stake in The Coca-Cola Company (NYSE:KO)

Violich Capital Management Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,347 shares of the company’s stock after selling 400 shares during the quarter. Violich Capital Management Inc.’s holdings in Coca-Cola were worth $2,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Investment Advisory Group LLC increased its stake in Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares in the last quarter. CCG Wealth Management LLC increased its stake in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. increased its stake in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. Blossom Wealth Management increased its stake in Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after purchasing an additional 155 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of Coca-Cola by 1.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock worth $718,000 after acquiring an additional 159 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group reduced their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Stock Performance

KO opened at $64.58 on Tuesday. The firm has a market cap of $278.18 billion, a P/E ratio of 26.68, a PEG ratio of 3.55 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. The company has a 50 day simple moving average of $62.53 and a two-hundred day simple moving average of $66.32. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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.