The Coca-Cola Company (NYSE:KO) Position Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.9% during the 4th quarter, Holdings Channel reports. The fund owned 118,617 shares of the company’s stock after selling 7,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Coca-Cola were worth $7,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. FMR LLC lifted its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $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 stake in shares of Coca-Cola during the third quarter valued at approximately $269,382,000. Geode Capital Management LLC boosted its stake in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $63.37 on Friday. The firm has a fifty day moving average price of $62.56 and a two-hundred day moving average price of $66.34. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $272.96 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Analysts Set New Price Targets

Several equities analysts have weighed in on KO shares. UBS Group lowered their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

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.