The Coca-Cola Company (NYSE:KO) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,459 shares of the company’s stock after purchasing an additional 25,917 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coca-Cola were worth $49,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Financial Group LLC acquired a new position in shares of Coca-Cola during the 1st quarter valued at about $204,000. Park Avenue Securities LLC increased its holdings in shares of Coca-Cola by 2.6% during the 1st quarter. Park Avenue Securities LLC now owns 80,125 shares of the company’s stock worth $4,902,000 after buying an additional 2,005 shares during the last quarter. Fragasso Group Inc. grew its position in Coca-Cola by 36.1% in the first quarter. Fragasso Group Inc. now owns 6,592 shares of the company’s stock worth $403,000 after acquiring an additional 1,747 shares during the period. Triangle Securities Wealth Management raised its position in Coca-Cola by 11.2% in the first quarter. Triangle Securities Wealth Management now owns 4,473 shares of the company’s stock valued at $274,000 after purchasing an additional 450 shares during the period. Finally, BTC Capital Management Inc. acquired a new position in shares of Coca-Cola in the 1st quarter valued at $269,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 37,787 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock worth $24,728,364 in the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $69.88 on Friday. The Coca-Cola Company has a 1-year low of $53.86 and a 1-year high of $73.53. The firm has a market cap of $301.04 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm’s fifty day moving average price is $70.67 and its 200 day moving average price is $65.65.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Bank of America boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.