Northwest & Ethical Investments L.P. Lowers Stock Holdings in CocaCola Company (The) $KO

by · The Markets Daily

Northwest & Ethical Investments L.P. reduced its stake in CocaCola Company (The) (NYSE:KO – Free Report) by 20.8% during the second quarter, HoldingsChannel.com reports. The firm owned 243,057 shares of the company’s stock after selling 64,026 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in CocaCola were worth $17,193,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KO. 1248 Management LLC bought a new position in shares of CocaCola in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its holdings in CocaCola by 5,142.9% in 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 last quarter. GFG Capital LLC bought a new position in CocaCola in the 2nd quarter valued at approximately $34,000. MMA Asset Management LLC purchased a new stake in CocaCola during the 2nd quarter valued at $34,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of CocaCola in the 1st quarter worth $42,000. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KO shares. Bank of America upped their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.43.

Get Our Latest Report on KO

Insider Buying and Selling

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares in the company, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Down 0.0%

Shares of CocaCola stock opened at $72.58 on Wednesday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company’s fifty day simple moving average is $68.65 and its 200-day simple moving average is $69.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a market capitalization of $312.20 billion, a PE ratio of 24.03, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO – Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion for the quarter. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. CocaCola’s payout ratio is 67.55%.

CocaCola Company Profile

(Free Report)

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.

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