The Coca-Cola Company (NYSE:KO) Holdings Trimmed by Webster Bank N. A.

Webster Bank N. A. cut its holdings in The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,148 shares of the company’s stock after selling 218 shares during the quarter. Webster Bank N. A.’s holdings in Coca-Cola were worth $632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP lifted 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 during the last quarter. Franklin Resources Inc. boosted its stake in shares of Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays dropped their price target 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. UBS Group decreased their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

NYSE KO opened at $61.98 on Monday. The company’s fifty day moving average is $62.62 and its two-hundred day moving average is $66.41. The Coca-Cola Company has a 52-week low of $57.93 and a 52-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 firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61.

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.