Korea Investment CORP Purchases 246,280 Shares of CocaCola Company (The) $KO

Korea Investment CORP grew its position in shares of CocaCola Company (The) (NYSE:KO) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,381,028 shares of the company’s stock after acquiring an additional 246,280 shares during the period. CocaCola comprises 0.5% of Korea Investment CORP’s portfolio, making the stock its 27th largest position. Korea Investment CORP owned 0.08% of CocaCola worth $239,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new position in CocaCola during the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. GFG Capital LLC purchased a new position in shares of CocaCola during the second quarter valued at approximately $34,000. MMA Asset Management LLC bought a new position in shares of CocaCola during the second quarter valued at approximately $34,000. Finally, Winnow Wealth LLC bought a new position in shares of CocaCola during the second quarter valued at approximately $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Price Performance

Shares of KO opened at $73.02 on Thursday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm’s 50-day simple moving average is $68.77 and its two-hundred day simple moving average is $69.50. The stock has a market cap of $314.11 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm 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%. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on KO shares. Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. UBS Group reduced their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Bank of America raised their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

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.