Yacktman Asset Management LP Sells 24,332 Shares of The Coca-Cola Company (NYSE:KO)

Yacktman Asset Management LP reduced its position in The Coca-Cola Company (NYSE:KO) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,288,805 shares of the company’s stock after selling 24,332 shares during the quarter. Coca-Cola comprises approximately 1.7% of Yacktman Asset Management LP’s investment portfolio, making the stock its 23rd biggest holding. Yacktman Asset Management LP owned about 0.05% of Coca-Cola worth $142,501,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO opened at $64.58 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a market capitalization of $278.18 billion, a PE ratio of 26.68, a PEG 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. The firm’s 50-day moving average price is $62.53 and its 200 day moving average price is $66.32.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on KO. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised 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 report on Thursday, December 12th. TD Cowen upgraded 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. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company 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 report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.19.

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.