Fullerton Fund Management Co Ltd. Sells 32,937 Shares of CocaCola Company (The) $KO

Fullerton Fund Management Co Ltd. trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 17.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,171 shares of the company’s stock after selling 32,937 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in CocaCola were worth $10,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. 1248 Management LLC bought a new position in CocaCola in the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its stake 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 valued at $26,000 after acquiring an additional 360 shares during the period. GFG Capital LLC acquired a new position in shares of CocaCola during the second quarter valued at $34,000. MMA Asset Management LLC bought a new position in CocaCola in the second quarter valued at about $34,000. Finally, Winnow Wealth LLC acquired a new stake in CocaCola in the second quarter worth about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, CocaCola presently has an average rating of “Buy” and an average price target of $79.08.

Insider Transactions at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares in the company, valued at $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 225,252 shares of company stock valued at $15,953,007. Insiders own 0.97% of the company’s stock.

CocaCola Stock Up 2.0%

CocaCola stock opened at $70.51 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The firm has a market capitalization of $303.29 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.84 and a beta of 0.39. The company’s 50 day simple moving average is $69.85 and its 200 day simple moving average is $69.50.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced 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 is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

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.