Ballentine Partners LLC Trims Holdings in CocaCola Company (The) $KO

Ballentine Partners LLC lowered its position in CocaCola Company (The) (NYSE:KO) by 25.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,492 shares of the company’s stock after selling 21,348 shares during the period. Ballentine Partners LLC’s holdings in CocaCola were worth $4,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after acquiring an additional 6,241,163 shares during the period. Norges Bank acquired a new position in CocaCola during the second quarter valued at $3,846,270,000. Legal & General Group Plc boosted its holdings in CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after purchasing an additional 285,794 shares during the last quarter. Invesco Ltd. grew its position in CocaCola by 10.9% during the 2nd quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock worth $1,791,962,000 after purchasing an additional 2,497,585 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CocaCola by 15.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,557,659 shares of the company’s stock worth $1,312,954,000 after purchasing an additional 2,423,914 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the business’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 owned 62,621 shares of the company’s stock, valued at $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were 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 directly owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 211,704 shares of company stock valued at $15,005,595 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

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

CocaCola Trading Up 1.3%

Shares of KO stock opened at $73.53 on Wednesday. CocaCola Company has a 1-year low of $62.28 and a 1-year high of $74.38. The company has a market cap of $316.28 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.73 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $70.75 and a 200-day simple moving average of $69.41.

CocaCola Company Profile

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.