Sumitomo Mitsui Trust Group Inc. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,793,323 shares of the company’s stock after buying an additional 222,028 shares during the period. Coca-Cola makes up about 0.6% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 24th biggest holding. Sumitomo Mitsui Trust Group Inc.’s holdings in Coca-Cola were worth $847,468,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter worth $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter worth $28,000. Hara Capital LLC bought a new position in Coca-Cola during the third quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter valued at $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.37 on Tuesday. The Coca-Cola Company has a 12-month low of $56.60 and a 12-month high of $73.53. The business’s fifty day simple moving average is $69.37 and its 200-day simple moving average is $66.52. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $272.99 billion, a PE ratio of 26.19, a PEG ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the company’s 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents 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 203,748 shares of company stock valued at $14,274,431 in the last ninety days. Company insiders own 0.97% of the company’s stock.

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.