Mediolanum International Funds Ltd Has $43.47 Million Position in The Coca-Cola Company (NYSE:KO)

Mediolanum International Funds Ltd boosted its position in The Coca-Cola Company (NYSE:KO) by 123.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 702,584 shares of the company’s stock after acquiring an additional 388,682 shares during the period. Mediolanum International Funds Ltd’s holdings in Coca-Cola were worth $43,474,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. Franklin Resources Inc. raised its position in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after buying an additional 1,609,565 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Coca-Cola by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after purchasing an additional 222,028 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.13.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $64.05 on Friday. 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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business’s 50 day simple moving average is $62.65 and its two-hundred day simple moving average is $66.38. The stock has a market capitalization of $275.90 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61.

Coca-Cola 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.