TD Waterhouse Canada Inc. increased its holdings in CocaCola Company (The) (NYSE:KO – Free Report) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 401,195 shares of the company’s stock after buying an additional 5,912 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in CocaCola were worth $32,627,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Anfield Capital Management LLC boosted its holdings in shares of CocaCola by 438.8% during the 4th quarter. Anfield Capital Management LLC now owns 361 shares of the company’s stock valued at $25,000 after acquiring an additional 294 shares during the last quarter. Louisbourg Investments Inc. purchased a new position in shares of CocaCola during the first quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in CocaCola during the second quarter valued at approximately $26,000. Evolution Wealth Management Inc. lifted its position in CocaCola by 1,081.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 390 shares of the company’s stock valued at $27,000 after purchasing an additional 357 shares during the period. Finally, Elevated Capital Advisors LLC purchased a new stake in CocaCola in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.
CocaCola Trading Up 2.1%
Shares of KO stock opened at $88.81 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market cap of $382.13 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.06 and a beta of 0.33. CocaCola Company has a 1 year low of $65.35 and a 1 year high of $90.92. The firm has a fifty day moving average price of $83.81 and a 200-day moving average price of $80.07.
CocaCola Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.53 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. CocaCola’s dividend payout ratio is presently 63.66%.
Analyst Upgrades and Downgrades
KO has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and set a $100.00 target price on shares of CocaCola in a research note on Tuesday, July 28th. Weiss Ratings restated a “buy (b+)” rating on shares of CocaCola in a research note on Friday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 price objective (up from $89.00) on shares of CocaCola in a report on Wednesday, July 29th. HSBC downgraded CocaCola from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group upped their price target on shares of CocaCola from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, CocaCola has an average rating of “Moderate Buy” and an average target price of $95.76.
View Our Latest Stock Analysis on KO
Insider Transactions at CocaCola
In other news, insider Bruno Pietracci sold 75,727 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.65, for a total value of $6,788,925.55. Following the transaction, the insider owned 35,393 shares of the company’s stock, valued at $3,172,982.45. This trade represents a 68.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sanket Ray sold 9,958 shares of CocaCola stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $86.50, for a total value of $861,367.00. Following the transaction, the insider directly owned 62,105 shares in the company, valued at approximately $5,372,082.50. The trade was a 13.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,433,535 shares of company stock valued at $121,922,698. Company insiders own 0.90% 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.
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