Allspring Global Investments Holdings LLC Has $15.85 Million Stock Position in CocaCola Company (The) $KO

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in CocaCola Company by 10.9%, holding 221,156 shares worth approximately $15.85 million after selling 27,124 shares in the second quarter.
• CocaCola has announced a quarterly dividend of $0.51, set to be paid on December 15th, with an annualized dividend of $2.04 and a yield of 3.0%.
• The stock has a market capitalization of $294.60 billion and, as of Friday, opened at $68.45, indicating ongoing analyst interest with a consensus rating of "Buy" and a target price of $76.69.

Allspring Global Investments Holdings LLC lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 221,156 shares of the company's stock after selling 27,124 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in CocaCola were worth $15,850,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the 1st quarter valued at $216,000. Perigon Wealth Management LLC lifted its stake in shares of CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Roundview Capital LLC raised its stake in CocaCola by 9.1% during the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock worth $2,474,000 after buying an additional 2,923 shares during the period. Finally, Banque Pictet & Cie SA raised its stake in CocaCola by 72.6% during the 2nd quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock worth $14,461,000 after buying an additional 85,950 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Price Performance

Shares of NYSE KO opened at $68.45 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The business has a 50-day moving average of $67.84 and a 200-day moving average of $69.73. The stock has a market capitalization of $294.60 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.52 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.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. As a group, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given 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 dividend yield of 3.0%. CocaCola's payout ratio is currently 72.34%.

Analyst Ratings Changes

Several analysts recently commented on the company. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Finally, Wells Fargo & Company dropped their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $76.69.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company's stock.

CocaCola 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.

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