Quantbot Technologies LP Makes New Investment in CocaCola Company (The) $KO

Quantbot Technologies LP bought a new stake in shares of CocaCola Company (The) (NYSE:KO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 104,142 shares of the company’s stock, valued at approximately $7,368,000.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Norges Bank purchased a new position in shares of CocaCola in the 2nd quarter valued at approximately $3,846,270,000. Nuveen LLC bought a new position in shares of CocaCola in the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP lifted its position in CocaCola by 52.7% during 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 bought a new stake in CocaCola during the first quarter worth about $642,183,000. Finally, Vanguard Group Inc. increased its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Bank of America lifted 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. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Piper Sandler lifted their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Trading Down 1.7%

NYSE:KO opened at $70.70 on Wednesday. The company has a market cap of $304.13 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $69.23 and a two-hundred day simple moving average of $69.56. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

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.