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

Key Points

• TD Asset Management Inc reduced its holdings in CocaCola Company by 3.6% in Q1, selling 96,119 shares and retaining 2,570,690 shares valued at approximately $184 million.
• Insider transactions show that notable executives like EVP Beatriz R. Perez and CFO John Murphy have sold significant portions of their shares, indicating a decrease in insider ownership by 0.97% over the last 90 days.
• CocaCola has recently announced a quarterly dividend of $0.51, which will be paid to shareholders on October 1st, reflecting an annual yield of 2.95% based on a payout ratio of 72.34%.

TD Asset Management Inc trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,570,690 shares of the company's stock after selling 96,119 shares during the period. TD Asset Management Inc owned 0.06% of CocaCola worth $184,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of CocaCola by 9.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,172,065 shares of the company's stock valued at $197,493,000 after purchasing an additional 269,491 shares in the last quarter. Finally, RiverFront Investment Group LLC lifted its stake in shares of CocaCola by 16.4% in the 4th quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company's stock valued at $7,615,000 after purchasing an additional 17,263 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group dropped their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Performance

Shares of KO traded down $0.22 during mid-day trading on Wednesday, hitting $69.17. The stock had a trading volume of 3,121,877 shares, compared to its average volume of 17,237,516. The company has a market cap of $297.70 billion, a PE ratio of 24.54, a PEG ratio of 3.54 and a beta of 0.45. The company's fifty day simple moving average is $70.52 and its two-hundred day simple moving average is $69.50. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38.

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

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. CocaCola's payout ratio is 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.