Principal Financial Group Inc. Sells 105,109 Shares of The Coca-Cola Company (NYSE:KO)

Principal Financial Group Inc. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,517,298 shares of the company’s stock after selling 105,109 shares during the quarter. Principal Financial Group Inc. owned about 0.17% of Coca-Cola worth $468,027,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.9 %

NYSE:KO opened at $68.85 on Monday. The Coca-Cola Company has a one year low of $57.93 and a one year 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. The firm has a market cap of $296.59 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.55 and a beta of 0.61. The firm has a 50-day simple moving average of $63.02 and a 200-day simple moving average of $66.36.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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 net margin of 22.45% and a return on equity of 44.01%. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Piper Sandler lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two equities research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.