Bank of New York Mellon Corp Has $1.54 Billion Stock Position in CocaCola Company (The) $KO

Bank of New York Mellon Corp reduced its position in CocaCola Company (The) (NYSE:KO) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,149,382 shares of the company’s stock after selling 380,484 shares during the quarter. Bank of New York Mellon Corp’s holdings in CocaCola were worth $1,535,267,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Requisite Capital Management LLC raised its position in CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after acquiring an additional 142 shares in the last quarter. Paulson Wealth Management Inc. increased its stake in shares of CocaCola by 2.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock worth $479,000 after purchasing an additional 149 shares during the last quarter. Summitry LLC raised its holdings in shares of CocaCola by 1.9% during the 2nd quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of CocaCola by 1.2% in the 3rd quarter. Ashton Thomas Securities LLC now owns 12,656 shares of the company’s stock valued at $835,000 after purchasing an additional 149 shares during the last quarter. Finally, Cetera Trust Company N.A boosted its holdings in CocaCola by 0.5% in the second quarter. Cetera Trust Company N.A now owns 30,371 shares of the company’s stock worth $2,149,000 after purchasing an additional 150 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on KO shares. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. TD Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report 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. Based on data from MarketBeat.com, CocaCola presently has an average rating of “Buy” and a consensus target price of $79.08.

CocaCola Stock Up 1.3%

Shares of KO stock opened at $73.53 on Wednesday. CocaCola Company has a 12 month low of $62.28 and a 12 month high of $74.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a market cap 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 stock has a 50 day moving average of $70.75 and a 200-day moving average of $69.41.

Insider Activity at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This represents a 70.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the sale, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,704 shares of company stock worth $15,005,595 in the last ninety days. 0.90% of the stock is currently owned by insiders.

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.