Charles Schwab Investment Management Inc. Has $5.03 Billion Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in The CocaCola Company by 5.2%, selling 3,885,742 shares during the first quarter, bringing its total ownership to around 70 million shares.
• Insider transactions include CEO James Quincey selling 266,403 shares at an average price of $72.06, marking a 49.12% decrease in his ownership, while insider Nikolaos Koumettis sold 37,396 shares, reducing his ownership by 15.15%.
• The CocaCola Company has announced a quarterly dividend of $0.51 per share, scheduled for payment on October 1st, representing an annualized yield of 2.9% with a payout ratio of 72.34%.

Charles Schwab Investment Management Inc. cut its position in CocaCola Company (The) (NYSE:KO - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,277,445 shares of the company's stock after selling 3,885,742 shares during the period. CocaCola accounts for approximately 0.9% of Charles Schwab Investment Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Charles Schwab Investment Management Inc. owned about 1.63% of CocaCola worth $5,032,679,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Northern Trust Corp grew its holdings in CocaCola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the period. Capital International Investors lifted its stake in shares of CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Fayez Sarofim & Co lifted its stake in shares of CocaCola by 6.7% in the fourth quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock worth $1,148,609,000 after buying an additional 1,155,538 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of CocaCola by 14.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,769,958 shares of the company's stock worth $1,106,336,000 after buying an additional 2,284,429 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

KO stock traded down $0.11 during trading on Friday, hitting $70.32. The stock had a trading volume of 9,229,863 shares, compared to its average volume of 14,864,419. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market cap of $302.63 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. The company's 50 day moving average price is $70.16 and its two-hundred day moving average price is $69.78. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio is currently 72.34%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KO shares. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $77.21.

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.