BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 138,534 Shares of CocaCola Company (The) $KO

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 644,120 shares of the company’s stock after selling 138,534 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CocaCola were worth $45,571,000 at the end of the most recent reporting period.

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

Insider Transactions at CocaCola

In other news, Director Max R. Levchin acquired 7,206 shares of the 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 transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KO shares. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Bank of America lifted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, TD Cowen boosted 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. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $79.08.

CocaCola Stock Up 2.0%

Shares of KO opened at $70.51 on Friday. The firm has a market cap of $303.29 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 3.84 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 Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm’s 50-day simple moving average is $69.85 and its 200 day simple moving average is $69.50.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion during the quarter. On average, analysts forecast 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 paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s payout ratio is 67.55%.

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.