State Street Corp Has $11.75 Billion Stake in CocaCola Company (The) $KO

State Street Corp lifted its stake in CocaCola Company (The) (NYSE:KO) by 0.2% in the second quarter, Holdings Channel.com reports. The firm owned 164,934,725 shares of the company’s stock after acquiring an additional 336,045 shares during the quarter. State Street Corp’s holdings in CocaCola were worth $11,752,198,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KO. Vanguard Group Inc. boosted its position in 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 during the last quarter. Norges Bank acquired a new stake in CocaCola in the second quarter valued at approximately $3,846,270,000. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock worth $1,930,170,000 after purchasing an additional 285,794 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction that occurred 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 approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is owned by company insiders.

CocaCola Price Performance

Shares of CocaCola stock opened at $70.21 on Tuesday. 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 company has a market cap of $302.01 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39. The firm has a fifty day moving average price of $69.57 and a two-hundred day moving average price of $69.52. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 2.9%. CocaCola’s payout ratio is presently 67.55%.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. Bank of America upped their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. 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, the company presently has an average rating of “Buy” and a consensus price target of $78.43.

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.