Townsquare Capital LLC Sells 55,181 Shares of CocaCola Company (The) $KO

Townsquare Capital LLC lessened its position in CocaCola Company (The) (NYSE:KO) by 52.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,714 shares of the company’s stock after selling 55,181 shares during the quarter. Townsquare Capital LLC’s holdings in CocaCola were worth $3,297,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sava Infond d.o.o. lifted its holdings in CocaCola by 210.8% during the 2nd quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after buying an additional 3,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of CocaCola by 5.0% in the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock valued at $322,455,000 after purchasing an additional 216,752 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CocaCola in the second quarter worth approximately $22,443,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in CocaCola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,408,798 shares of the company’s stock worth $690,311,000 after purchasing an additional 198,886 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 0.5%

KO stock opened at $73.39 on Friday. The company has a market capitalization of $315.70 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.75 and a beta of 0.39. CocaCola Company has a 12 month low of $62.35 and a 12 month high of $74.38. The firm’s fifty day simple moving average is $70.83 and its 200-day simple moving average is $69.46. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Thursday, January 22nd. 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 report on Friday, November 7th. UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Finally, TD Cowen reissued a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus target price of $79.69.

Insider Activity at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer owned 62,621 shares in the company, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This trade represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,704 shares of company stock worth $15,005,595 in the last three months. Company insiders own 0.97% of the company’s stock.

CocaCola Profile

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.