Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in CocaCola Company (The) $KO

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 15.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,557,659 shares of the company’s stock after acquiring an additional 2,423,914 shares during the period. CocaCola makes up about 1.0% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 14th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CocaCola were worth $1,312,954,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of CocaCola during the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP grew its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Boston Partners purchased a new stake in CocaCola in the 1st quarter worth $642,183,000. Raymond James Financial Inc. raised its position in CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after acquiring an additional 3,810,752 shares during the period. Finally, Amundi raised its position in CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Piper Sandler increased their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Activity at CocaCola

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is currently owned by insiders.

CocaCola Stock Up 2.2%

Shares of KO opened at $70.61 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $67.75 and a two-hundred day simple moving average of $69.56. The company has a market capitalization of $303.75 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued 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 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

About CocaCola

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.