CI Investments Inc. Sells 784,822 Shares of The Coca-Cola Company (NYSE:KO)

CI Investments Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 34.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,475,775 shares of the company’s stock after selling 784,822 shares during the period. CI Investments Inc.’s holdings in Coca-Cola were worth $92,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Vanguard Group Inc. lifted its holdings in shares of Coca-Cola by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock valued at $21,775,641,000 after purchasing an additional 8,961,600 shares in the last quarter. State Street Corp lifted its stake in Coca-Cola by 0.8% in the first quarter. State Street Corp now owns 171,972,013 shares of the company’s stock valued at $10,737,003,000 after buying an additional 1,374,105 shares in the last quarter. FMR LLC boosted its holdings in shares of Coca-Cola by 20.0% in the second quarter. FMR LLC now owns 99,695,103 shares of the company’s stock valued at $6,271,819,000 after buying an additional 16,606,701 shares during the period. Wellington Management Group LLP increased its position in shares of Coca-Cola by 10.7% during the first quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock worth $5,000,550,000 after acquiring an additional 7,800,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Coca-Cola by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 51,570,921 shares of the company’s stock worth $3,197,397,000 after acquiring an additional 1,301,902 shares during the period. 68.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, Director Herbert A. Allen III acquired 33,200 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was acquired at an average cost of $60.18 per share, for a total transaction of $1,997,976.00. Following the transaction, the director now directly owns 99,054 shares in the company, valued at $5,961,069.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Herbert A. Allen III acquired 33,200 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was acquired at an average price of $60.18 per share, with a total value of $1,997,976.00. Following the purchase, the director now directly owns 99,054 shares in the company, valued at $5,961,069.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy Quan sold 13,746 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $61.12, for a total transaction of $840,155.52. Following the completion of the sale, the senior vice president now owns 184,710 shares in the company, valued at approximately $11,289,475.20. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO traded up $0.28 during mid-day trading on Thursday, reaching $62.63. The company’s stock had a trading volume of 8,990,385 shares, compared to its average volume of 13,046,908. The business has a 50-day simple moving average of $58.33 and a two-hundred day simple moving average of $61.28. The stock has a market cap of $270.84 billion, a P/E ratio of 27.35, a PEG ratio of 4.12 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $52.28 and a 1-year high of $67.20. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.45.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.76 annualized dividend and a dividend yield of 2.81%. Coca-Cola’s dividend payout ratio is 76.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI lowered their target price on Coca-Cola to $68.00 in a report on Thursday, October 20th. Barclays increased their price objective on Coca-Cola from $62.00 to $67.00 in a report on Wednesday, October 26th. StockNews.com assumed coverage on Coca-Cola in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Jefferies Financial Group decreased their price target on shares of Coca-Cola from $66.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, October 11th. Finally, Credit Suisse Group set a $64.00 target price on shares of Coca-Cola in a research report on Wednesday, October 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Coca-Cola Company Profile

(Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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