The Coca-Cola Company (NYSE:KO) Stake Decreased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its holdings in The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,965 shares of the company’s stock after selling 829 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Coca-Cola were worth $2,426,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group reduced their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price 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 investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.4 %

Shares of NYSE KO opened at $62.34 on Wednesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. 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 business has a fifty day moving average of $62.66 and a two-hundred day moving average of $66.42. The stock has a market cap of $268.55 billion, a PE ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.61.

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.