Philip James Wealth Mangement LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Philip James Wealth Mangement LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,735 shares of the company’s stock after selling 2,386 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Coca-Cola were worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. FMR LLC increased its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Franklin Resources Inc. increased its holdings in Coca-Cola by 6.1% in 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 last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Coca-Cola by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock valued at $997,480,000 after buying an additional 351,462 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on KO shares. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. TD Cowen upgraded shares of 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. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, UBS Group upped their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Price Performance

Shares of KO opened at $68.85 on Monday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock’s 50 day moving average is $63.02 and its two-hundred day moving average is $66.36. The firm has a market capitalization of $296.59 billion, a PE ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current 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.