First Citizens Bank & Trust Co. Sells 6,876 Shares of CocaCola Company (The) $KO

First Citizens Bank & Trust Co. trimmed its stake in shares of CocaCola Company (The) (NYSE:KOFree Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 238,422 shares of the company’s stock after selling 6,876 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CocaCola were worth $15,812,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CocaCola in the second quarter worth about $3,846,270,000. Vanguard Group Inc. lifted its stake in CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in CocaCola by 7,239.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after purchasing an additional 6,065,840 shares during the period. Assenagon Asset Management S.A. grew its position in shares of CocaCola by 343.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,486,096 shares of the company’s stock valued at $297,518,000 after purchasing an additional 3,474,015 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of CocaCola by 28.7% in the second quarter. Schroder Investment Management Group now owns 11,713,984 shares of the company’s stock worth $828,764,000 after purchasing an additional 2,613,316 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

NYSE:KO opened at $72.93 on Friday. The company has a market capitalization of $313.69 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 3.75 and a beta of 0.39. The business has a 50 day moving average of $70.66 and a 200 day moving average of $69.36. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1-year low of $61.44 and a 1-year high of $74.38.

Insider Activity

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 211,704 shares of company stock valued at $15,005,595. Corporate insiders own 0.97% of the company’s stock.

CocaCola News Summary

Here are the key news stories impacting CocaCola this week:

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Piper Sandler boosted their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $79.08.

Read Our Latest Stock Analysis on CocaCola

About CocaCola

(Free Report)

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

Further Reading

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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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