Ameriprise Financial Inc. Has $1.22 Billion Stake in CocaCola Company (The) $KO

Ameriprise Financial Inc. reduced its holdings in shares of CocaCola Company (The) (NYSE:KO) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,192,396 shares of the company’s stock after selling 2,041,513 shares during the period. Ameriprise Financial Inc. owned about 0.40% of CocaCola worth $1,216,428,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Gould Capital LLC lifted its position in CocaCola by 0.6% during the 2nd quarter. Gould Capital LLC now owns 48,376 shares of the company’s stock worth $3,423,000 after buying an additional 278 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of CocaCola in the second quarter valued at approximately $2,343,000. Florida Financial Advisors LLC lifted its stake in shares of CocaCola by 8.1% during the second quarter. Florida Financial Advisors LLC now owns 9,079 shares of the company’s stock valued at $642,000 after acquiring an additional 683 shares during the period. Ausdal Financial Partners Inc. grew its position in shares of CocaCola by 33.9% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 22,410 shares of the company’s stock worth $1,585,000 after buying an additional 5,668 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of CocaCola by 0.5% during the second quarter. California State Teachers Retirement System now owns 6,652,424 shares of the company’s stock worth $470,659,000 after buying an additional 35,552 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Up 2.0%

Shares of CocaCola stock opened at $70.51 on Friday. The stock has a market cap of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.84 and a beta of 0.39. 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 12-month low of $60.62 and a 12-month high of $74.38. The business’s 50 day moving average is $69.85 and its 200-day moving average is $69.50.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal 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 issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Insider Activity

In related news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction dated Tuesday, November 11th. The shares were 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 directly owned 62,621 shares in the company, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Bank of America increased their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $79.08.

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.