Coca-Cola Company (The) $KO Shares Sold by BOCHK Asset Management Ltd

Key Points

• BOCHK Asset Management reduced its Coca-Cola stake by 39.7% in the third quarter, selling 26,200 shares and retaining 39,800 shares valued at approximately $3.43 million. Institutional investors still own 70.26% of KO.
• Analysts remain broadly bullish: Coca-Cola has a “Moderate Buy” consensus rating and an average price target of $97.26, with several firms recently raising their targets to as high as $97.
• Coca-Cola exceeded quarterly expectations with $0.91 EPS and $13.35 billion in revenue, up 7.2% year over year. The company also declared a quarterly dividend of $0.53, or $2.12 annualized, yielding about 2.2%.

BOCHK Asset Management Ltd lessened its stake in Coca-Cola Company (The) (NYSE:KO - Free Report) by 39.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,800 shares of the company's stock after selling 26,200 shares during the period. BOCHK Asset Management Ltd's holdings in Coca-Cola were worth $3,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Banco Santander S.A. raised its position in Coca-Cola by 3.1% in the second quarter. Banco Santander S.A. now owns 1,090,758 shares of the company's stock worth $88,646,000 after acquiring an additional 32,723 shares in the last quarter. CX Institutional lifted its holdings in Coca-Cola by 402.3% in the third quarter. CX Institutional now owns 163,248 shares of the company's stock valued at $14,052,000 after acquiring an additional 130,746 shares during the period. Daymark Wealth Partners LLC boosted its position in shares of Coca-Cola by 68.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 218,199 shares of the company's stock worth $17,733,000 after purchasing an additional 88,690 shares in the last quarter. Moore Capital Management LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth $12,905,000. Finally, Cidel Asset Management Inc. grew its stake in shares of Coca-Cola by 2,091.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 361,934 shares of the company's stock worth $29,414,000 after purchasing an additional 345,417 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Rothschild & Co Redburn raised their price objective on shares of Coca-Cola from $86.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $96.00 price objective on shares of Coca-Cola in a report on Monday, October 26th. DZ Bank restated a "buy" rating on shares of Coca-Cola in a research report on Wednesday, July 29th. Daiwa Securities Group increased their target price on shares of Coca-Cola from $83.00 to $93.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Argus lifted their price target on shares of Coca-Cola from $91.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.26.

Coca-Cola Price Performance

Shares of NYSE KO opened at $95.93 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The company's 50-day moving average price is $89.57 and its 200 day moving average price is $82.20. Coca-Cola Company has a 52 week low of $67.27 and a 52 week high of $96.26. The stock has a market cap of $412.76 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.52 and a beta of 0.32.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The company had revenue of $13.35 billion during the quarter, compared to analysts' expectations of $12.92 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that Coca-Cola Company will post 3.34 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Coca-Cola's dividend payout ratio is presently 62.35%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 111,365 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $90.93, for a total transaction of $10,126,419.45. Following the sale, the insider owned 41,365 shares in the company, valued at approximately $3,761,319.45. This represents a 72.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 50,000 shares of Coca-Cola stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $90.39, for a total value of $4,519,500.00. Following the sale, the executive vice president owned 223,330 shares of the company's stock, valued at approximately $20,186,798.70. This represents a 18.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 171,323 shares of company stock valued at $15,507,286. 0.90% of the stock is owned by corporate insiders.

More Coca-Cola News

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Pricing power is supporting margins. Coca-Cola has been passing higher costs on to consumers as inflation persists, demonstrating the strength of its brands and helping protect profitability. Coca-Cola Is Exercising its Pricing Power as Inflation Persists
• Positive Sentiment: New distribution wins add growth potential. Coca-Cola’s agreement to supply beverages to approximately 3,600 U.S. KFC restaurants beginning in 2027 gives the company additional volume and visibility in an important food-service channel. What Coca-Cola Holders Saw Early
• Positive Sentiment: Recent results reinforce the defensive investment case. Coca-Cola delivered quarterly EPS of $0.91 versus an $0.88 consensus estimate, while revenue rose 7.2% year over year to $13.35 billion. Analysts and investors also point to strong free-cash-flow margins, geographic diversification and a capital-light model that supports continued dividend growth. Coca-Cola Delivers Strong Growth - But is KO Stock Undervalued?
• Neutral Sentiment: Valuation may limit near-term upside. KO trades at approximately 28 times expected earnings, well above UPS at about 15 times, although Coca-Cola offers greater stability and a long record of dividend increases. The premium valuation means further gains likely depend on continued volume growth, successful new contracts and sustained earnings execution. Coca-Cola vs. UPS

Coca-Cola Profile

The Coca-Cola Company NYSE: KO is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands.

The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.

The Coca-Cola Company serves consumers in more than 200 countries and territories through a system that includes company-operated operations, independent bottling partners, distributors, retailers, and food-service providers.

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