Prudential Financial Inc. Increases Position in The Coca-Cola Co (KO)
Prudential Financial Inc. boosted its position in The Coca-Cola Co (NYSE:KO) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,169,156 shares of the company’s stock after acquiring an additional 428,305 shares during the period. Prudential Financial Inc.’s holdings in The Coca-Cola were worth $367,694,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Veritas Investment Management LLP bought a new stake in The Coca-Cola in the 3rd quarter valued at about $135,000. Spectrum Management Group Inc. bought a new stake in The Coca-Cola in the 3rd quarter valued at about $137,000. Legacy Advisors LLC bought a new stake in The Coca-Cola in the 3rd quarter valued at about $139,000. Almanack Investment Partners LLC. bought a new stake in The Coca-Cola in the 2nd quarter valued at about $142,000. Finally, Shine Investment Advisory Services Inc. raised its stake in The Coca-Cola by 102.2% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock valued at $143,000 after acquiring an additional 1,610 shares during the period. Institutional investors and hedge funds own 65.34% of the company’s stock.
A number of research firms have weighed in on KO. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 target price on shares of The Coca-Cola in a report on Friday, October 27th. JPMorgan Chase & Co. set a $48.00 target price on The Coca-Cola and gave the company a “neutral” rating in a report on Friday, December 15th. Goldman Sachs Group set a $45.00 target price on The Coca-Cola and gave the company a “sell” rating in a report on Thursday, October 26th. Susquehanna Bancshares set a $45.00 target price on The Coca-Cola and gave the company a “hold” rating in a report on Tuesday, November 21st. Finally, Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.01.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the sale, the chief financial officer now owns 123,796 shares of the company’s stock, valued at $5,713,185.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Edward Long sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold 122,640 shares of company stock valued at $5,800,776 in the last three months. 1.51% of the stock is owned by insiders.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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