CocaCola Company (The) $KO Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its stake in CocaCola Company (The) (NYSE:KO) by 42.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,065 shares of the company’s stock after buying an additional 73,735 shares during the period. Assetmark Inc.’s holdings in CocaCola were worth $17,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of CocaCola during the first quarter worth about $1,508,657,000. Wellington Management Group LLP boosted its position in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. Boston Partners purchased a new position in CocaCola during the 1st quarter worth approximately $642,183,000. Raymond James Financial Inc. increased its position in CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after buying an additional 3,810,752 shares during the period. Finally, Amundi lifted its stake in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Down 0.1%

Shares of NYSE:KO opened at $68.94 on Friday. The company has a market cap of $296.56 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm’s 50-day simple moving average is $67.73 and its 200-day simple moving average is $69.68. 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 (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion during the quarter. As a group, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola’s payout ratio is 67.55%.

Insider Buying and Selling

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KO shares. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Finally, TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $78.31.

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.