Coca-Cola Shareholders Trim Stakes as Bond Yields Rise

Equitable Holdings Inc., a significant shareholder in The Coca-Cola Company (NYSE:KO), has reduced its stake in the beverage giant by selling 78,742 shares in the second quarter. According to its most recent SEC filing, Equitable Holdings now owns 216,307 shares of KO stock, valued at $17,579,000.

This is not an isolated instance of buying or selling activity; other hedge funds have also been active in their positions in KO. Anfield Capital Management LLC, for example, increased its holdings by a whopping 438.8% during the fourth quarter and now owns 361 shares valued at $25,000.

Coca-Cola's stock has gained since its latest earnings report, with a price of $89.16 on Friday. Analysts have been revising their estimates for the company, with JPMorgan Chase & Co. boosting its price target to $96.00 and giving KO an 'overweight' rating.

Despite this positive sentiment, some analysts remain cautious. HSBC downgraded KO from a 'strong-buy' rating to a 'hold' rating, citing pressure on dividend-stock valuations due to higher bond yields.