UniSuper Management Pty Ltd Buys 49,729 Shares of CocaCola Company (The) $KO

UniSuper Management Pty Ltd increased its stake in CocaCola Company (The) (NYSE:KOFree Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 687,309 shares of the company’s stock after purchasing an additional 49,729 shares during the quarter. UniSuper Management Pty Ltd’s holdings in CocaCola were worth $45,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the last quarter. Norges Bank bought a new stake in CocaCola during the second quarter valued at about $3,846,270,000. Legal & General Group Plc grew its position in shares of CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after purchasing an additional 285,794 shares during the last quarter. Invesco Ltd. increased its stake in shares of CocaCola by 10.9% in the second quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock worth $1,791,962,000 after purchasing an additional 2,497,585 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CocaCola by 15.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,557,659 shares of the company’s stock worth $1,312,954,000 after purchasing an additional 2,423,914 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola News Summary

Here are the key news stories impacting CocaCola this week:

Insider Activity

In other CocaCola news, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Manuel Arroyo sold 139,689 shares of the company’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 value of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 211,704 shares of company stock worth $15,005,595. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note 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 research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. TD Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Finally, Piper Sandler raised their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $79.08.

Get Our Latest Research Report on CocaCola

CocaCola Stock Up 1.5%

Shares of KO stock opened at $72.93 on Friday. The stock has a market cap of $313.69 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 3.70 and a beta of 0.39. CocaCola Company has a one year low of $61.44 and a one year high of $74.38. The stock has a fifty day moving average price of $70.66 and a 200 day moving average price of $69.37. 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 (NYSE:KOGet Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $12.46 billion. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Company Profile

(Free Report)

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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