Fifth Third Bancorp Has $104.13 Million Stake in The Coca-Cola Company (NYSE:KO)

Fifth Third Bancorp lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,672,567 shares of the company's stock after purchasing an additional 10,024 shares during the quarter. Fifth Third Bancorp's holdings in Coca-Cola were worth $104,134,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc lifted its holdings in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock worth $2,463,373,000 after buying an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP boosted its position in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock valued at $1,990,407,000 after buying an additional 1,609,565 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Finally, TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.07.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.7 %

KO traded up $0.45 during trading on Friday, hitting $61.98. The company had a trading volume of 19,239,652 shares, compared to its average volume of 12,503,886. The company has a market capitalization of $267.01 billion, a PE ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61. 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's 50-day moving average price is $62.62 and its 200 day moving average price is $66.36.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The business's quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

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.