CocaCola Company (The) $KO Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in shares of CocaCola Company (The) (NYSE:KO) by 12.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,177,500 shares of the company’s stock after selling 471,826 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.07% of CocaCola worth $224,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares in the last quarter. Norges Bank acquired a new position in CocaCola during the 2nd quarter worth about $3,846,270,000. Wellington Management Group LLP increased its stake in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CocaCola by 6.2% during the 1st 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 buying an additional 1,794,561 shares during the period. Finally, Legal & General Group Plc increased its holdings in CocaCola by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock worth $1,930,170,000 after purchasing an additional 285,794 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the sale, the executive vice president directly owned 223,330 shares in the company, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 225,252 shares of company stock worth $15,953,007. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group cut their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their target price 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 analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat.com, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Stock Performance

NYSE:KO opened at $70.70 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a 50-day moving average of $69.23 and a two-hundred day moving average of $69.56. The stock has a market cap of $304.13 billion, a P/E ratio of 23.41, a PEG ratio of 3.57 and a beta of 0.39.

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

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is 67.55%.

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.