Sumitomo Mitsui Trust Group Inc. Grows Position in The Coca-Cola Company (NYSE:KO)

Sumitomo Mitsui Trust Group Inc. increased its stake in The Coca-Cola Company (NYSE:KO) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,793,323 shares of the company’s stock after acquiring an additional 222,028 shares during the period. Coca-Cola comprises approximately 0.6% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 24th largest position. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Coca-Cola worth $847,468,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter worth approximately $28,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the third quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter valued at $36,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 0.9 %

Shares of Coca-Cola stock opened at $63.37 on Tuesday. The company has a 50-day simple moving average of $69.37 and a two-hundred day simple moving average of $66.52. The Coca-Cola Company has a 52-week low of $56.60 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market capitalization of $272.99 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61.

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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock worth $14,274,431 in the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KO shares. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.80.

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.