Swedbank AB Sells 6,200 Shares of The Coca-Cola Company (NYSE:KO)

Swedbank AB reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,956,808 shares of the company’s stock after selling 6,200 shares during the period. Swedbank AB’s holdings in Coca-Cola were worth $121,831,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Quarry LP acquired a new stake in Coca-Cola in the second quarter worth $27,000. EP Wealth Advisors LLC boosted its position in shares of Coca-Cola by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 98,187 shares of the company’s stock worth $6,250,000 after purchasing an additional 2,032 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 1.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 34,875 shares of the company’s stock valued at $2,216,000 after buying an additional 416 shares during the period. Truist Financial Corp raised its stake in Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the period. Finally, Advisory Alpha LLC boosted its holdings in Coca-Cola by 6.0% in the second quarter. Advisory Alpha LLC now owns 14,101 shares of the company’s stock worth $898,000 after acquiring an additional 804 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded up $0.37 during mid-day trading on Wednesday, hitting $62.73. 1,594,180 shares of the company traded hands, compared to its average volume of 15,995,169. The stock’s fifty day moving average price is $62.65 and its 200-day moving average price is $66.41. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a market cap of $270.25 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on KO. Barclays decreased their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $71.93.

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.