Hartford Investment Management Co. Sells 6,766 Shares of CocaCola Company (The) $KO

Hartford Investment Management Co. lowered its stake in CocaCola Company (The) (NYSE:KO) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,131 shares of the company’s stock after selling 6,766 shares during the period. Hartford Investment Management Co.’s holdings in CocaCola were worth $15,063,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Headlands Technologies LLC acquired a new position in CocaCola during the second quarter valued at approximately $26,000. Marquette Asset Management LLC bought a new stake in CocaCola during the third quarter worth $27,000. Cloud Capital Management LLC acquired a new stake in shares of CocaCola in the 3rd quarter valued at $27,000. Finally, GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter valued at $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction 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 approximately $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 211,704 shares of company stock valued at $15,005,595. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Bank of America boosted their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $79.69.

CocaCola Stock Performance

CocaCola stock opened at $75.36 on Tuesday. The business has a 50 day moving average of $70.92 and a 200-day moving average of $69.53. The company has a market capitalization of $324.18 billion, a P/E ratio of 24.95, a P/E/G ratio of 3.84 and a beta of 0.36. CocaCola Company has a 1 year low of $62.35 and a 1 year high of $75.70. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

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.