Phoenix Financial Ltd. Boosts Holdings in CocaCola Company (The) $KO

Phoenix Financial Ltd. grew its position in CocaCola Company (The) (NYSE:KO) by 36.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,293 shares of the company’s stock after acquiring an additional 16,567 shares during the quarter. Phoenix Financial Ltd.’s holdings in CocaCola were worth $4,131,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after acquiring an additional 6,241,163 shares during the last quarter. Norges Bank bought a new stake in shares of CocaCola in the second quarter valued at about $3,846,270,000. Legal & General Group Plc raised its holdings in shares of CocaCola by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after purchasing an additional 285,794 shares in the last quarter. Invesco Ltd. increased its holdings in CocaCola by 10.9% during the second quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock valued at $1,791,962,000 after buying an additional 2,497,585 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of CocaCola by 15.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,557,659 shares of the company’s stock worth $1,312,954,000 after acquiring an additional 2,423,914 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

KO stock opened at $73.53 on Wednesday. CocaCola Company has a 1 year low of $62.28 and a 1 year high of $74.38. The firm has a market capitalization of $316.28 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.73 and a beta of 0.39. The business has a 50 day simple moving average of $70.75 and a 200-day simple moving average of $69.41. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Finally, TD Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $79.08.

Insider Buying and Selling

In other news, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 211,704 shares of company stock worth $15,005,595. Insiders own 0.90% of the company’s stock.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.