Fifth Third Bancorp Buys 10,024 Shares of The Coca-Cola Company (NYSE:KO)

Fifth Third Bancorp increased its stake in The Coca-Cola Company (NYSE:KO) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,672,567 shares of the company’s stock after purchasing an additional 10,024 shares during the quarter. Fifth Third Bancorp’s holdings in Coca-Cola were worth $104,134,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. FMR LLC grew its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $269,382,000. Geode Capital Management LLC raised its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on KO. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group lowered their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Coca-Cola stock opened at $61.98 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market cap of $267.01 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The company’s 50-day moving average price is $62.61 and its two-hundred day moving average price is $66.37.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.