CORDA Investment Management LLC. Has $30.71 Million Stake in CocaCola Company (The) $KO

Key Points

• CORDA Investment Management LLC reduced its stake in CocaCola by 2.0%, holding 434,013 shares valued at approximately $30.71 million, which represents 2.3% of its investment portfolio.
• Vanguard Group Inc. and Wellington Management Group LLP both increased their holdings in CocaCola, highlighting significant interest from institutional investors who own 70.26% of the stock.
• CocaCola announced a quarterly dividend of $0.51 per share, set to be paid on December 15th, which reflects an annualized dividend yield of 3.0%.

CORDA Investment Management LLC. trimmed its position in CocaCola Company (The) (NYSE:KO - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,013 shares of the company's stock after selling 8,955 shares during the period. CocaCola makes up approximately 2.3% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 21st largest holding. CORDA Investment Management LLC.'s holdings in CocaCola were worth $30,706,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after purchasing an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 buying an additional 1,794,561 shares during the last quarter. Amundi lifted its position in CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company's stock worth $1,554,074,000 after buying an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of CocaCola during the 1st quarter worth about $1,508,657,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reiterated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $76.69.

CocaCola Stock Performance

Shares of NYSE KO opened at $68.45 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The stock has a 50 day moving average of $67.84 and a 200-day moving average of $69.69. The company has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.57 and a beta of 0.43.

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

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

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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