Sumitomo Mitsui DS Asset Management Company Ltd Acquires 20,763 Shares of The Coca-Cola Company (NYSE:KO)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in The Coca-Cola Company (NYSE:KO) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 712,222 shares of the company’s stock after purchasing an additional 20,763 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coca-Cola were worth $44,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Advisory Group LLC lifted its holdings in shares of Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares during the period. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. lifted its stake in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after acquiring an additional 150 shares during the period. Blossom Wealth Management increased its position in Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after purchasing an additional 155 shares during the period. Finally, Strategic Investment Solutions Inc. IL increased its position in Coca-Cola by 1.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after purchasing an additional 159 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KO shares. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. UBS Group decreased 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. Barclays cut their target price on 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, Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Stock Performance

Shares of KO stock opened at $63.37 on Friday. The business has a fifty day moving average of $62.56 and a 200 day moving average of $66.34. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year 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 $272.96 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

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.