Geode Capital Management LLC Sells 7,035,996 Shares of CocaCola Company (The) $KO

Geode Capital Management LLC cut its stake in CocaCola Company (The) (NYSE:KO) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,901,595 shares of the company’s stock after selling 7,035,996 shares during the quarter. Geode Capital Management LLC owned about 2.07% of CocaCola worth $6,267,312,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Perigon Wealth Management LLC lifted its stake in shares of CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after acquiring an additional 4,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CocaCola by 6.2% in the first 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 purchasing an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CocaCola during the second quarter worth $22,443,000. Roundview Capital LLC boosted its stake in shares of CocaCola by 9.1% during the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after purchasing an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA grew its holdings in shares of CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock worth $14,461,000 after purchasing an additional 85,950 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $71.59 on Wednesday. The company has a market capitalization of $307.97 billion, a PE ratio of 23.71, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a 50-day simple moving average of $67.84 and a two-hundred day simple moving average of $69.49. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. 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 (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Research 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. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, Director Max R. Levchin purchased 7,206 shares of the stock in a transaction on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the 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 completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Bank of America upped their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, 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. One 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.com, CocaCola presently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Profile

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.