Mitsubishi UFJ Trust & Banking Corp Sells 56,783 Shares of CocaCola Company (The) $KO

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,248,719 shares of the company’s stock after selling 56,783 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in CocaCola were worth $159,097,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KO. 1248 Management LLC acquired a new stake in CocaCola in the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC raised its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the period. MMA Asset Management LLC acquired a new stake in CocaCola in the 2nd quarter valued at about $34,000. Finally, GFG Capital LLC bought a new position in CocaCola during the second quarter worth about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Bank of America upped their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. 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 report on Wednesday, October 22nd. Finally, Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $78.43.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

KO opened at $71.59 on Wednesday. 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 business has a fifty day simple moving average of $67.84 and a 200 day simple moving average of $69.49. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a market capitalization of $307.97 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm 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%. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. CocaCola’s payout ratio is currently 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.