CocaCola Company (The) $KO Stock Holdings Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in CocaCola Company (The) (NYSE:KO) by 33.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 296,374 shares of the company’s stock after selling 148,536 shares during the period. Texas Permanent School Fund Corp’s holdings in CocaCola were worth $20,968,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 6,241,163 shares during the last quarter. Norges Bank acquired a new position in shares of CocaCola in the 2nd quarter worth approximately $3,846,270,000. Wellington Management Group LLP raised 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 worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 purchasing an additional 1,794,561 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in CocaCola by 1.1% during 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. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

KO stock opened at $70.51 on Monday. The firm has a 50 day simple moving average of $69.85 and a 200 day simple moving average of $69.47. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market cap of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.92 and a beta of 0.39. 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 released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion during the quarter. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Manuel Arroyo sold 139,689 shares of the firm’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 transaction of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% 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, COO Henrique Braun sold 40,390 shares of the business’s 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 completion of the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 225,252 shares of company stock worth $15,953,007. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. Wells Fargo & Company lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Bank of America upped their target price on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Finally, TD Cowen upped their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat, CocaCola has an average rating of “Buy” and an average target price of $79.08.

CocaCola 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.