Synovus Financial Corp Lowers Position in CocaCola Company (The) $KO

Synovus Financial Corp decreased its holdings in CocaCola Company (The) (NYSE:KO) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,563,920 shares of the company’s stock after selling 76,660 shares during the period. CocaCola makes up 5.7% of Synovus Financial Corp’s portfolio, making the stock its 4th biggest position. Synovus Financial Corp’s holdings in CocaCola were worth $501,640,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of CocaCola by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 368,885,160 shares of the company’s stock valued at $24,464,464,000 after buying an additional 1,443,189 shares during the period. Norges Bank bought a new position in CocaCola in the second quarter valued at about $3,846,270,000. Legal & General Group Plc increased its position in CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock worth $1,930,170,000 after purchasing an additional 285,794 shares during the period. Invesco Ltd. raised its holdings 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 last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Royal Bank Of Canada set a $87.00 price objective on shares of CocaCola in a report on Wednesday, February 11th. UBS Group increased their price target on CocaCola from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, February 11th. Wells Fargo & Company upped their price objective on CocaCola from $79.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Finally, Truist Financial set a $85.00 target price on CocaCola in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $84.33.

CocaCola Stock Performance

Shares of CocaCola stock opened at $79.50 on Thursday. The stock’s fifty day simple moving average is $72.62 and its 200 day simple moving average is $70.31. The company has a current ratio of 1.46, a quick ratio of 1.25 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $341.97 billion, a PE ratio of 26.15, a PEG ratio of 3.34 and a beta of 0.36. CocaCola Company has a 12 month low of $65.35 and a 12 month high of $80.41.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, February 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $12.04 billion. CocaCola had a return on equity of 41.31% and a net margin of 27.34%.The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. CocaCola has set its FY 2026 guidance at 3.210-3.240 EPS. On average, research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

Insider Buying and Selling

In other news, CEO James Quincey sold 337,824 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $77.10, for a total value of $26,046,230.40. Following the completion of the transaction, the chief executive officer owned 342,546 shares in the company, valued at $26,410,296.60. This represents a 49.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

About CocaCola

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.