Chevy Chase Trust Holdings LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Chevy Chase Trust Holdings LLC raised its position in The Coca-Cola Company (NYSE:KO – Get Rating) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,510,442 shares of the company’s stock after purchasing an additional 20,052 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Coca-Cola worth $140,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of KO. Fairfield Bush & CO. acquired a new position in shares of Coca-Cola in the 1st quarter valued at $77,000. Merit Financial Group LLC boosted its holdings in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after buying an additional 1,754 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after buying an additional 43,680 shares in the last quarter. Ergoteles LLC boosted its holdings in shares of Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after buying an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after buying an additional 301,804 shares in the last quarter. 68.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Coca-Cola news, Director Herbert A. Allen III bought 33,200 shares of the company’s stock in a transaction on Friday, October 28th. The stock was purchased at an average cost of $60.18 per share, for a total transaction of $1,997,976.00. Following the acquisition, the director now owns 99,054 shares of the company’s stock, valued at approximately $5,961,069.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, Director Herbert A. Allen III bought 33,200 shares of the company’s stock in a transaction on Friday, October 28th. The stock was purchased at an average cost of $60.18 per share, for a total transaction of $1,997,976.00. Following the acquisition, the director now owns 99,054 shares of the company’s stock, valued at approximately $5,961,069.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy Quan sold 13,746 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $61.12, for a total transaction of $840,155.52. Following the transaction, the senior vice president now owns 184,710 shares of the company’s stock, valued at $11,289,475.20. The disclosure for this sale can be found here. Insiders sold 276,986 shares of company stock worth $17,218,050 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. set a $64.00 price target on shares of Coca-Cola in a research note on Thursday, December 8th. UBS Group increased their price target on shares of Coca-Cola from $63.00 to $68.00 in a research note on Wednesday, October 26th. Morgan Stanley decreased their price target on shares of Coca-Cola from $74.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, October 4th. Wedbush started coverage on shares of Coca-Cola in a research note on Monday, October 10th. They set an “outperform” rating and a $63.00 price target for the company. Finally, Wells Fargo & Company raised their target price on shares of Coca-Cola from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, December 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $66.90.

Coca-Cola Stock Performance

Shares of KO opened at $60.55 on Wednesday. The company has a 50-day simple moving average of $62.61 and a 200-day simple moving average of $61.26. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $261.85 billion, a PE ratio of 26.44, a P/E/G ratio of 3.80 and a beta of 0.57. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $67.20.

Coca-Cola (NYSE:KO – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $10.60 billion. Coca-Cola had a net margin of 23.44% and a return on equity of 42.75%. Equities research analysts predict that The Coca-Cola Company will post 2.48 earnings per share for the current fiscal year.

Coca-Cola Company Profile

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The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.