Sumitomo Mitsui Trust Group Inc. Acquires 166,199 Shares of The Coca-Cola Company (NYSE:KO)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,959,522 shares of the company’s stock after buying an additional 166,199 shares during the period. Coca-Cola makes up 0.5% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 27th largest position. Sumitomo Mitsui Trust Group Inc.’s holdings in Coca-Cola were worth $744,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brookstone Capital Management raised its stake in Coca-Cola by 2.8% during the 3rd quarter. Brookstone Capital Management now owns 81,458 shares of the company’s stock valued at $5,854,000 after buying an additional 2,216 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Coca-Cola during the 3rd quarter valued at $338,000. CWM LLC grew its position in Coca-Cola by 9.4% during the third quarter. CWM LLC now owns 434,719 shares of the company’s stock valued at $31,239,000 after buying an additional 37,483 shares during the period. Hexagon Capital Partners LLC increased its holdings in Coca-Cola by 1.2% during the third quarter. Hexagon Capital Partners LLC now owns 16,865 shares of the company’s stock valued at $1,212,000 after buying an additional 208 shares during the last quarter. Finally, Wedmont Private Capital raised its position in Coca-Cola by 4.2% in the third quarter. Wedmont Private Capital now owns 44,557 shares of the company’s stock worth $3,075,000 after acquiring an additional 1,813 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 0.4 %

KO stock opened at $63.37 on Friday. The firm 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. The firm has a fifty day moving average price of $62.56 and a 200 day moving average price of $66.34. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday. Barclays decreased their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Truist Financial upped their price target 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. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Company 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.