Sumitomo Mitsui Financial Group Inc. Acquires 8,928 Shares of CocaCola Company (The) $KO

Sumitomo Mitsui Financial Group Inc. boosted its holdings in CocaCola Company (The) (NYSE:KO) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,234 shares of the company’s stock after purchasing an additional 8,928 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in CocaCola were worth $16,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KO. 1248 Management LLC purchased a new stake in CocaCola during the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its stake in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. GFG Capital LLC bought a new stake in CocaCola in the second quarter valued at approximately $34,000. MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. Finally, Winnow Wealth LLC purchased a new stake in shares of CocaCola during the second quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Wells Fargo & Company raised their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Bank of America upped their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and an average price target of $78.43.

CocaCola Trading Up 0.6%

Shares of KO opened at $73.02 on Thursday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average price is $68.77 and its 200-day moving average price is $69.50. The firm has a market capitalization of $314.11 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. CocaCola’s payout ratio is currently 67.55%.

Insider Activity at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 over the last ninety days. Insiders own 0.90% of the company’s stock.

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.