CocaCola Company (The) $KO Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,512,531 shares of the company’s stock after selling 444,539 shares during the period. CocaCola accounts for approximately 0.8% of Lazard Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Lazard Asset Management LLC’s holdings in CocaCola were worth $602,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Vanguard Group Inc. raised its stake in shares of CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares during the last quarter. Norges Bank acquired a new position in CocaCola in the 2nd quarter worth approximately $3,846,270,000. Wellington Management Group LLP raised its position in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CocaCola by 6.2% during 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 worth $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of CocaCola by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after acquiring an additional 285,794 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was 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 directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,252 shares of company stock worth $15,953,007 in the last ninety days. Company insiders own 0.97% of the company’s stock.

CocaCola Price Performance

NYSE:KO opened at $70.51 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock’s 50-day moving average price is $69.85 and its 200-day moving average price is $69.50. The stock has a market capitalization of $303.29 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 3.84 and a beta of 0.39.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share 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. As a group, equities analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Wells Fargo & Company increased 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. TD Cowen boosted their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One equities research 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 stock currently has an average rating of “Buy” and an average target price of $79.08.

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.