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% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the third quarter valued at about $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.37 during midday trading on Wednesday, hitting $62.73. 1,594,180 shares of the company’s stock were exchanged, compared to its average volume of 15,995,169. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company’s 50 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 firm has a market capitalization of $270.25 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Analysts Set New Price Targets

A number of brokerages have commented on KO. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group dropped their price objective 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. Piper Sandler decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.93.

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.