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 - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

Several other large investors have also bought and sold shares of KO. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the third quarter worth $18,383,000. Balentine LLC grew its position in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Fiduciary Alliance LLC grew its position in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after purchasing an additional 46,541 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on KO. Wells Fargo & Company decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group decreased 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. Finally, Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $71.93.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.50 during midday trading on Wednesday, hitting $62.86. The company's stock had a trading volume of 11,319,342 shares, compared to its average volume of 16,563,904. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a 50-day moving average price of $62.65 and a two-hundred day moving average price of $66.41. The company has a market cap of $270.77 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.