Yacktman Asset Management LP Has $156.82 Million Position in CocaCola Company (The) $KO

Yacktman Asset Management LP reduced its holdings in CocaCola Company (The) (NYSE:KO) by 1.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,216,552 shares of the company’s stock after selling 23,072 shares during the quarter. CocaCola comprises 2.1% of Yacktman Asset Management LP’s holdings, making the stock its 17th biggest holding. Yacktman Asset Management LP’s holdings in CocaCola were worth $156,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Nuveen LLC acquired a new stake in CocaCola in the 1st quarter valued at $1,508,657,000. Wellington Management Group LLP increased its stake in 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 buying an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new position in shares of CocaCola during the 1st quarter worth about $642,183,000. Raymond James Financial Inc. increased its stake in shares of CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Amundi raised its holdings in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of KO stock opened at $68.53 on Thursday. The company has a market capitalization of $294.79 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a 50-day simple moving average of $67.71 and a 200 day simple moving average of $69.58. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Dividend Announcement

The firm 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 $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is currently 67.55%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Piper Sandler raised their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Finally, TD Cowen lifted their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and a consensus target price of $78.31.

Insider Transactions at CocaCola

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.

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.