Amalgamated Bank Raises Holdings in CocaCola Company (The) $KO

Amalgamated Bank grew its position in shares of CocaCola Company (The) (NYSE:KO) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 818,548 shares of the company’s stock after purchasing an additional 13,826 shares during the period. CocaCola makes up approximately 0.4% of Amalgamated Bank’s investment portfolio, making the stock its 28th biggest position. Amalgamated Bank’s holdings in CocaCola were worth $57,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KO. Vanguard Group Inc. grew its position in CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CocaCola by 6.2% in 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 worth $2,212,300,000 after acquiring an additional 1,794,561 shares in the last quarter. Amundi grew its position in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC purchased a new position in CocaCola in the first quarter worth about $1,508,657,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 2.6%

Shares of NYSE KO opened at $68.30 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a market cap of $293.82 billion, a P/E ratio of 22.62, a PEG ratio of 3.66 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a 50-day simple moving average of $67.79 and a two-hundred day simple moving average of $69.71.

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. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola’s payout ratio is presently 67.55%.

Analysts Set New Price Targets

Several research firms recently commented on KO. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. TD Cowen lifted their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $78.31.

Insider Activity at CocaCola

In other news, Director Max R. Levchin purchased 7,206 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares of the company’s stock, valued at $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. 0.97% of the stock is owned by company insiders.

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.