TD Asset Management Inc Reduces Stake in CocaCola Company (The) $KO

TD Asset Management Inc lowered its holdings in CocaCola Company (The) (NYSE:KO) by 2.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,506,785 shares of the company’s stock after selling 63,905 shares during the quarter. TD Asset Management Inc’s holdings in CocaCola were worth $177,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of CocaCola by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CocaCola by 6.2% in 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 valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the last quarter. Amundi increased its holdings 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 last quarter. Finally, Nuveen LLC purchased a new position in shares of CocaCola in the 1st quarter valued at about $1,508,657,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Trading Up 1.1%

Shares of KO stock opened at $67.54 on Wednesday. The business’s 50 day moving average is $67.98 and its two-hundred day moving average is $69.80. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market capitalization of $290.65 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $11.40 billion for the quarter. Equities analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KO shares. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company dropped their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, 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 note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and an average target price of $76.93.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.