CocaCola Company (The) $KO Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,149,382 shares of the company’s stock after selling 380,484 shares during the quarter. Bank of New York Mellon Corp owned about 0.54% of CocaCola worth $1,535,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Caitong International Asset Management Co. Ltd boosted its stake in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Headlands Technologies LLC bought a new position in CocaCola during the second quarter valued at about $26,000. Marquette Asset Management LLC acquired a new position in CocaCola during the third quarter worth about $27,000. MMA Asset Management LLC bought a new stake in CocaCola in the second quarter worth about $34,000. Finally, GFG Capital LLC bought a new position in shares of CocaCola during the 2nd quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors.

CocaCola Price Performance

KO opened at $73.53 on Wednesday. The firm has a market capitalization of $316.28 billion, a P/E ratio of 24.35, a PEG ratio of 3.73 and a beta of 0.39. The stock has a fifty day moving average of $70.75 and a 200-day moving average of $69.41. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $62.28 and a 12-month high of $74.38.

Insider Buying and Selling

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was 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 approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the transaction, the executive vice president owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 211,704 shares of company stock valued at $15,005,595. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. UBS Group reissued a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Bank of America increased 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 equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $79.08.

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.