National Bank of Canada FI Cuts Stock Holdings in CocaCola Company (The) $KO

National Bank of Canada FI lessened its position in CocaCola Company (The) (NYSE:KO) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,616,655 shares of the company’s stock after selling 272,336 shares during the quarter. National Bank of Canada FI owned about 0.08% of CocaCola worth $255,857,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its holdings in CocaCola by 12.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,375,244 shares of the company’s stock valued at $238,799,000 after purchasing an additional 375,183 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CocaCola during the second quarter worth $26,000. Binnacle Investments Inc raised its position in shares of CocaCola by 33.4% in the second quarter. Binnacle Investments Inc now owns 651 shares of the company’s stock valued at $46,000 after buying an additional 163 shares during the last quarter. Semmax Financial Advisors Inc. lifted its stake in shares of CocaCola by 1.4% in the second quarter. Semmax Financial Advisors Inc. now owns 57,662 shares of the company’s stock worth $4,056,000 after buying an additional 778 shares in the last quarter. Finally, Equitable Holdings Inc. lifted its stake in shares of CocaCola by 10.9% in the second quarter. Equitable Holdings Inc. now owns 161,452 shares of the company’s stock worth $11,423,000 after buying an additional 15,865 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $79.08.

CocaCola Price Performance

KO stock opened at $70.51 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $303.29 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.39. The business has a fifty day moving average of $69.85 and a two-hundred day moving average of $69.48.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Insider Activity

In related news, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares in the company, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Max R. Levchin purchased 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 225,252 shares of company stock worth $15,953,007 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

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.