CocaCola Company (The) $KO Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its holdings in CocaCola by 0.6%, owning approximately 10.21 million shares worth about $722 million at the end of the last quarter.
• The company recently announced a quarterly dividend of $0.51 per share, with an ex-dividend date of December 1, reflecting an annualized dividend yield of 2.9%.
• CocaCola's stock has seen various analyst ratings, currently maintaining an average rating of "Buy" with a target price around $78.31.

Sumitomo Mitsui Trust Group Inc. increased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,209,912 shares of the company's stock after purchasing an additional 63,581 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of CocaCola worth $722,351,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KO. Brighton Jones LLC raised its holdings in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC grew its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC grew its position in CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock valued at $5,961,000 after purchasing an additional 13,261 shares in the last quarter. Moran Wealth Management LLC grew its position in CocaCola by 54.3% during the first quarter. Moran Wealth Management LLC now owns 64,554 shares of the company's stock valued at $4,623,000 after purchasing an additional 22,704 shares in the last quarter. Finally, Spire Wealth Management grew its position in CocaCola by 3.5% in the first quarter. Spire Wealth Management now owns 39,392 shares of the company's stock worth $2,821,000 after acquiring an additional 1,339 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company's stock.

CocaCola Trading Down 0.2%

Shares of KO stock opened at $69.81 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $300.45 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 3.69 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.98 and a current ratio of 1.21. The firm has a fifty day moving average of $67.82 and a 200-day moving average of $69.72.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion during the quarter. On average, equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio is presently 67.55%.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Evercore ISI reaffirmed an "outperform" rating on shares of CocaCola in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. According to data from MarketBeat, CocaCola currently has an average rating of "Buy" and an average target price of $78.31.

CocaCola 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.

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