Sumitomo Mitsui Financial Group Inc. Grows Stake in CocaCola Company (The) $KO

Sumitomo Mitsui Financial Group Inc. lifted its stake in CocaCola Company (The) (NYSE:KO) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 235,234 shares of the company’s stock after buying an additional 8,928 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in CocaCola were worth $16,643,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. Requisite Capital Management LLC raised its holdings in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after buying an additional 142 shares during the last quarter. Paulson Wealth Management Inc. increased its position in shares of CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after acquiring an additional 149 shares in the last quarter. Summitry LLC increased its position in shares of CocaCola by 1.9% during the second quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after acquiring an additional 149 shares in the last quarter. Frisch Financial Group Inc. raised its holdings in CocaCola by 2.5% in the 1st quarter. Frisch Financial Group Inc. now owns 6,145 shares of the company’s stock worth $443,000 after acquiring an additional 150 shares during the last quarter. Finally, GDS Wealth Management lifted its position in CocaCola by 1.8% in the 1st quarter. GDS Wealth Management now owns 8,591 shares of the company’s stock valued at $615,000 after acquiring an additional 150 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Up 0.6%

Shares of NYSE:KO opened at $73.02 on Thursday. The stock’s 50-day simple moving average is $68.77 and its two-hundred day simple moving average is $69.50. The stock has a market capitalization of $314.11 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Insider Activity

In other news, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the sale, the executive vice president directly owned 223,330 shares in the company, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Max R. Levchin bought 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 225,252 shares of company stock worth $15,953,007. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Piper Sandler raised their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Profile

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.