Acadian Asset Management LLC Boosts Holdings in CocaCola Company (The) $KO

Acadian Asset Management LLC grew its position in shares of CocaCola Company (The) (NYSE:KO) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,139,364 shares of the company’s stock after buying an additional 217,812 shares during the quarter. Acadian Asset Management LLC’s holdings in CocaCola were worth $80,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in KO. 1248 Management LLC bought a new stake in CocaCola in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. Finally, MMA Asset Management LLC purchased a new position in shares of CocaCola in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

Shares of CocaCola stock opened at $70.61 on Monday. The stock has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock has a 50 day moving average price of $67.75 and a 200-day moving average price of $69.51. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Insider Activity at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value 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 approximately $2,638,109.25. The trade was a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Max R. Levchin purchased 7,206 shares of the stock in a transaction dated Friday, October 24th. The stock was purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KO. Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Wells Fargo & Company upped their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $78.43.

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.