M&G PLC Sells 667,547 Shares of CocaCola Company (The) $KO

M&G PLC reduced its position in CocaCola Company (The) (NYSE:KO) by 30.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,511,925 shares of the company’s stock after selling 667,547 shares during the period. M&G PLC’s holdings in CocaCola were worth $107,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KO. Wealth Quarterback LLC grew its stake in shares of CocaCola by 1.9% during the 2nd quarter. Wealth Quarterback LLC now owns 15,650 shares of the company’s stock valued at $1,107,000 after acquiring an additional 288 shares during the period. Advyzon Investment Management LLC raised its stake in CocaCola by 61.4% during the second quarter. Advyzon Investment Management LLC now owns 11,952 shares of the company’s stock valued at $846,000 after purchasing an additional 4,548 shares in the last quarter. VeraBank N.A. raised its position in shares of CocaCola by 10.4% during the 2nd quarter. VeraBank N.A. now owns 22,609 shares of the company’s stock valued at $1,600,000 after buying an additional 2,124 shares in the last quarter. Cascade Financial Partners LLC increased its position in shares of CocaCola by 6.5% during the 2nd quarter. Cascade Financial Partners LLC now owns 6,580 shares of the company’s stock valued at $466,000 after purchasing an additional 400 shares during the last quarter. Finally, Cvfg LLC lifted its holdings in shares of CocaCola by 1.7% in the 2nd quarter. Cvfg LLC now owns 9,523 shares of the company’s stock worth $674,000 after acquiring an additional 156 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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. Bank of America boosted their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Wells Fargo & Company increased their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler upped their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research 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 company’s stock. Based on data from MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus price target of $78.43.

Insider Buying and Selling

In related news, Director Max R. Levchin acquired 7,206 shares of CocaCola 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 acquisition, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% of the company’s stock.

CocaCola Trading Up 1.5%

Shares of KO stock opened at $71.59 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $307.97 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.57 and a beta of 0.43. The stock has a 50 day simple moving average of $67.84 and a 200-day simple moving average of $69.49.

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

CocaCola Dividend Announcement

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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

CocaCola Company 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.