Amundi Decreases Stock Holdings in CocaCola Company (The) $KO

Amundi lessened its stake in CocaCola Company (The) (NYSE:KO) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,810,516 shares of the company’s stock after selling 3,425,799 shares during the quarter. Amundi owned about 0.41% of CocaCola worth $1,262,944,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its position in CocaCola by 5,142.9% during 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. MMA Asset Management LLC acquired a new stake in CocaCola during the second quarter worth about $34,000. GFG Capital LLC purchased a new position in CocaCola during the second quarter worth about $34,000. Finally, Winnow Wealth LLC acquired a new position in CocaCola in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $78.43.

CocaCola Price Performance

CocaCola stock opened at $70.46 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 firm has a market cap of $303.08 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 3.93 and a beta of 0.39. The company’s 50 day moving average is $69.40 and its two-hundred day moving average is $69.57.

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

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

Insider Activity

In related news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were 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 of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This represents a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is owned by corporate insiders.

CocaCola Company 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.