AustralianSuper Pty Ltd Trims Stock Position in CocaCola Company (The) $KO

AustralianSuper Pty Ltd decreased its stake in CocaCola Company (The) (NYSE:KO) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,308 shares of the company’s stock after selling 153,773 shares during the period. AustralianSuper Pty Ltd’s holdings in CocaCola were worth $44,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Caitong International Asset Management Co. Ltd increased its position in shares of 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 in the last quarter. Headlands Technologies LLC purchased a new position in CocaCola during the 2nd quarter worth approximately $26,000. Marquette Asset Management LLC acquired a new position in CocaCola during the third quarter worth approximately $27,000. GFG Capital LLC purchased a new stake in CocaCola in the second quarter valued at approximately $34,000. Finally, MMA Asset Management LLC acquired a new stake in shares of CocaCola in the second quarter valued at approximately $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Trading Down 0.7%

Shares of CocaCola stock opened at $73.04 on Thursday. The firm has a market cap of $314.17 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 3.77 and a beta of 0.39. CocaCola Company has a 52-week low of $62.35 and a 52-week high of $74.38. The company’s 50-day simple moving average is $70.79 and its 200-day simple moving average is $69.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KO. Bank of America lifted their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Finally, UBS Group reaffirmed a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus price target of $79.08.

Insider Buying and Selling

In other news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This represents a 70.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 211,704 shares of company stock valued at $15,005,595 over the last quarter. Company insiders own 0.90% of the company’s stock.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.