Mitsubishi UFJ Asset Management Co. Ltd. Has $1.31 Billion Position in CocaCola Company (The) $KO

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CocaCola Company (The) (NYSE:KO) by 15.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 18,557,659 shares of the company’s stock after acquiring an additional 2,423,914 shares during the period. CocaCola accounts for approximately 1.0% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 14th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.43% of CocaCola worth $1,312,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of CocaCola by 25.4% during the second quarter. Parkside Financial Bank & Trust now owns 35,195 shares of the company’s stock valued at $2,490,000 after acquiring an additional 7,134 shares during the last quarter. Magellan Asset Management Ltd raised its position in CocaCola by 91.2% during the 2nd quarter. Magellan Asset Management Ltd now owns 1,943,750 shares of the company’s stock worth $137,520,000 after purchasing an additional 927,064 shares during the last quarter. Aviva PLC raised its position in CocaCola by 6.5% during the 2nd quarter. Aviva PLC now owns 3,578,897 shares of the company’s stock worth $253,207,000 after purchasing an additional 218,970 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in CocaCola by 25.8% during the 2nd quarter. Prospera Financial Services Inc now owns 117,690 shares of the company’s stock worth $8,329,000 after buying an additional 24,160 shares during the period. Finally, AGF Management Ltd. increased its stake in shares of CocaCola by 257.4% in the second quarter. AGF Management Ltd. now owns 279,732 shares of the company’s stock valued at $19,791,000 after buying an additional 201,457 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KO. Piper Sandler raised their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Bank of America raised their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $78.43.

Insider Activity at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the transaction, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.97% of the company’s stock.

CocaCola Stock Up 2.2%

KO stock opened at $70.61 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market capitalization of $303.75 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The firm has a 50 day moving average of $67.75 and a 200 day moving average of $69.56.

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

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. 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 2.9%. CocaCola’s dividend payout ratio (DPR) 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.