Mitsubishi UFJ Asset Management UK Ltd. Takes Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in CocaCola, purchasing 10,000 shares valued at approximately $716,000 during the first quarter.
• Analysts have mostly rated CocaCola positively, with an average rating of "Buy" and a consensus price target of $77.21.
• CocaCola announced a quarterly dividend of $0.51 per share, with a yield of 2.9%, set to be paid on October 1st to shareholders of record on September 15th.

Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,000 shares of the company's stock, valued at approximately $716,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the 1st quarter worth approximately $25,000. Garde Capital Inc. purchased a new stake in CocaCola during the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its stake in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its stake in CocaCola by 449.5% during the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. 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. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group dropped their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. 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 report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $77.21.

Insiders Place Their Bets

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

CocaCola Stock Down 0.4%

NYSE:KO opened at $70.46 on Thursday. The stock has a market capitalization of $303.24 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock's fifty day moving average is $70.08 and its two-hundred day moving average is $70.02.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for 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 company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. Research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.