M&G PLC Sells 667,547 Shares of CocaCola Company (The) $KO

M&G PLC trimmed its position in CocaCola Company (The) (NYSE:KO) by 30.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,511,925 shares of the company’s stock after selling 667,547 shares during the period. M&G PLC’s holdings in CocaCola were worth $107,347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted 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 buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in 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. Edgestream Partners L.P. purchased a new position in shares of CocaCola during the 1st quarter valued at $628,000. Apollon Financial LLC bought a new position in shares of CocaCola in the first quarter worth $213,000. Finally, BluePointe Capital Management LLC purchased a new stake in shares of CocaCola in the first quarter worth $250,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Bank of America increased their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Finally, Piper Sandler upped their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report 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 stock. According to MarketBeat.com, CocaCola has an average rating of “Buy” and an average price target of $78.43.

CocaCola Trading Up 1.5%

NYSE KO opened at $71.59 on Wednesday. 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 Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $307.97 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The stock has a 50 day simple moving average of $67.84 and a two-hundred day simple moving average of $69.49.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS 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. On average, analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued 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 2.8%. CocaCola’s dividend payout ratio is 67.55%.

Insider Activity at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction on Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. 0.97% of the stock is currently owned by corporate insiders.

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.