Sumitomo Life Insurance Co. Has $2.56 Million Position in CocaCola Company (The) $KO

Sumitomo Life Insurance Co. lowered its holdings in shares of CocaCola Company (The) (NYSE:KO) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,132 shares of the company’s stock after selling 2,249 shares during the period. Sumitomo Life Insurance Co.’s holdings in CocaCola were worth $2,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. New Republic Capital LLC boosted its stake in CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC boosted its stake in CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after buying an additional 140 shares in the last quarter. Requisite Capital Management LLC boosted its stake in CocaCola by 2.8% during 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 in the last quarter. BXM Wealth LLC boosted its stake in CocaCola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock worth $253,000 after buying an additional 144 shares in the last quarter. Finally, MTM Investment Management LLC boosted its stake in CocaCola by 0.3% during the first quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock worth $3,637,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $68.94 on Friday. The stock has a 50-day simple moving average of $67.73 and a 200 day simple moving average of $69.67. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $296.56 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. On average, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Analysts Set New Price Targets

A number of research analysts have issued reports on KO shares. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $78.31.

Insider Activity at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the transaction, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

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.