CocaCola Company (The) $KO Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in CocaCola Company (The) (NYSE:KO) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,224,649 shares of the company’s stock after selling 178,007 shares during the period. CocaCola makes up about 1.4% of Truist Financial Corp’s investment portfolio, making the stock its 9th largest position. Truist Financial Corp’s holdings in CocaCola were worth $1,009,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Sava Infond d.o.o. grew its stake in CocaCola by 210.8% in the 2nd quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after buying an additional 3,900 shares during the last quarter. Vanguard Group Inc. grew its position 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 valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the last quarter. Aberdeen Group plc increased its stake in shares of CocaCola by 5.0% during the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock worth $322,455,000 after purchasing an additional 216,752 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CocaCola during the 2nd quarter worth approximately $22,443,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in CocaCola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,408,798 shares of the company’s stock valued at $690,311,000 after purchasing an additional 198,886 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KO shares. TD Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Piper Sandler boosted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Thursday, January 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company increased their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $79.08.

CocaCola Trading Up 1.3%

Shares of KO opened at $73.53 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52-week low of $62.28 and a 52-week high of $74.38. The firm 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 business’s fifty day moving average is $70.75 and its 200-day moving average is $69.41.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the 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 transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 211,704 shares of company stock worth $15,005,595 over the last 90 days. Insiders own 0.90% of the company’s stock.

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.