Sawgrass Asset Management LLC Sells 275 Shares of The Coca-Cola Company (NYSE:KO)

Sawgrass Asset Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,666 shares of the company’s stock after selling 275 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Coca-Cola were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. boosted its stake in Coca-Cola by 17.3% during the 4th quarter. Stanley Laman Group Ltd. now owns 10,945 shares of the company’s stock valued at $681,000 after purchasing an additional 1,615 shares during the period. Consolidated Planning Corp boosted its stake in Coca-Cola by 12.9% during the 4th quarter. Consolidated Planning Corp now owns 34,828 shares of the company’s stock valued at $2,168,000 after purchasing an additional 3,985 shares during the period. Hidden Cove Wealth Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at approximately $336,000. Naples Global Advisors LLC raised its holdings in Coca-Cola by 1.1% in the 4th quarter. Naples Global Advisors LLC now owns 27,051 shares of the company’s stock valued at $1,684,000 after acquiring an additional 304 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Coca-Cola by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 962,530 shares of the company’s stock valued at $59,928,000 after acquiring an additional 15,200 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.1 %

NYSE KO opened at $69.48 on Friday. The stock has a fifty day moving average of $62.76 and a 200-day moving average of $66.33. The stock has a market capitalization of $299.28 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 released its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate 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 research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Barclays upped their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Evercore ISI upped their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday. Two investment 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. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $73.82.

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.