CocaCola Company (The) $KO Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO) by 7.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 88,901,595 shares of the company’s stock after selling 7,035,996 shares during the quarter. Geode Capital Management LLC’s holdings in CocaCola were worth $6,267,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in CocaCola by 5,142.9% during the second 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 period. Ridgewood Investments LLC raised its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. GFG Capital LLC acquired a new position in CocaCola in the second quarter valued at approximately $34,000. Finally, MMA Asset Management LLC purchased a new stake in CocaCola in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of NYSE KO opened at $71.59 on Wednesday. The stock has a market capitalization of $307.97 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm has a 50-day simple moving average of $67.84 and a 200-day simple moving average of $69.49. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

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

CocaCola Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. TD Cowen upped their target price on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average target price of $78.43.

Insider Activity

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by company insiders.

CocaCola 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.