CocaCola Company (The) $KO Position Cut by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its position in shares of CocaCola Company (The) (NYSE:KO) by 97.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 375 shares of the company’s stock after selling 15,960 shares during the period. Penserra Capital Management LLC’s holdings in CocaCola were worth $26,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd grew its holdings in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the period. GFG Capital LLC acquired a new stake in CocaCola in the 2nd quarter valued at approximately $34,000. Finally, MMA Asset Management LLC bought a new stake in CocaCola during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola 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 transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

CocaCola Trading Up 0.1%

CocaCola stock opened at $71.13 on Friday. The firm has a market cap of $305.98 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm’s 50 day moving average price is $68.01 and its two-hundred day moving average price is $69.51. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

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

CocaCola Announces Dividend

The business also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KO. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. TD Cowen increased their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Bank of America raised their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, BNP Paribas restated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $78.43.

About CocaCola

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.