Assetmark Inc. Grows Stock Position in CocaCola Company (The) $KO

Assetmark Inc. boosted its holdings in CocaCola Company (The) (NYSE:KO) by 42.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,065 shares of the company’s stock after acquiring an additional 73,735 shares during the period. Assetmark Inc.’s holdings in CocaCola were worth $17,621,000 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. increased its position in shares of CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP boosted its stake in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the last quarter. Amundi raised its stake in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Finally, Nuveen LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $1,508,657,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Trading Down 0.1%

KO opened at $68.94 on Friday. The business has a fifty day moving average price of $67.73 and a 200 day moving average price of $69.68. 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 12 month low of $60.62 and a 12 month high of $74.38. The stock has a market capitalization of $296.56 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings data 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 business had revenue of $11.40 billion during the quarter. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given 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 3.0%. CocaCola’s dividend payout ratio is currently 67.55%.

Insider Activity

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s 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 sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KO shares. BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted 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. UBS Group decreased their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $78.31.

About CocaCola

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.