Empirical Finance LLC Has $8.26 Million Position in The Coca-Cola Company (NYSE:KO)

Empirical Finance LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,709 shares of the company’s stock after selling 1,798 shares during the period. Empirical Finance LLC’s holdings in Coca-Cola were worth $8,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KO. FMR LLC raised its holdings in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC raised its holdings in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Wellington Management Group LLP raised its holdings in Coca-Cola by 14.5% during the 3rd 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 holdings in Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Coca-Cola by 1.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock worth $744,600,000 after purchasing an additional 166,199 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.84 on Friday. The company’s 50-day moving average is $62.53 and its 200 day moving average is $66.31. 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 company has a market capitalization of $275.03 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. 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 note on Thursday, January 23rd. 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. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

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.