Invesco Ltd. Has $1.79 Billion Position in CocaCola Company (The) $KO

Invesco Ltd. grew its position in CocaCola Company (The) (NYSE:KO) by 10.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,328,083 shares of the company’s stock after purchasing an additional 2,497,585 shares during the quarter. Invesco Ltd.’s holdings in CocaCola were worth $1,791,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the period. Thoroughbred Financial Services LLC increased its stake in CocaCola by 20.6% during the 1st quarter. Thoroughbred Financial Services LLC now owns 48,190 shares of the company’s stock worth $3,451,000 after purchasing an additional 8,243 shares in the last quarter. Advyzon Investment Management LLC raised its holdings in CocaCola by 92.4% during the 1st quarter. Advyzon Investment Management LLC now owns 7,404 shares of the company’s stock worth $530,000 after buying an additional 3,555 shares during the period. Finally, Horizon Family Wealth Inc. bought a new position in CocaCola in the first quarter valued at approximately $857,000. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 in the last three months. Insiders own 0.97% of the company’s stock.

CocaCola Trading Down 1.7%

Shares of KO stock opened at $70.70 on Wednesday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $304.13 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. The firm has a 50 day moving average price of $69.23 and a two-hundred day moving average price of $69.56. 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 (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Bank of America boosted their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. UBS Group decreased their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Piper Sandler boosted their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.43.

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.