CocaCola Company (The) $KO Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in CocaCola Company by 2.5%, holding a total of 2,506,785 shares valued at approximately $177.4 million.
• The company recently declared a quarterly dividend of $0.51, which translates to an annualized yield of 3.0% and a dividend payout ratio of 72.34%.
• CocaCola's current market cap stands at $290.65 billion, with a 12-month price range between $60.62 and $74.38.

TD Asset Management Inc lowered its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,506,785 shares of the company's stock after selling 63,905 shares during the period. TD Asset Management Inc owned 0.06% of CocaCola worth $177,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the first quarter worth $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the 1st quarter valued at $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Price Performance

KO opened at $67.54 on Wednesday. The stock's 50-day moving average price is $67.98 and its 200 day moving average price is $69.80. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market cap of $290.65 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 3.48 and a beta of 0.43.

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

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analyst Ratings Changes

Several equities analysts have recently commented on KO shares. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group decreased 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, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $76.93.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the 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 $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by corporate insiders.

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.

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