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United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Lowers Position in CocaCola Company (The) (NYSE:KO)

CocaCola logo with Consumer Staples background

Key Points

  • United Super Pty Ltd significantly reduced its stake in CocaCola by selling 443,455 shares, which led to an 85.5% decrease in their holdings, leaving them with 75,504 shares valued at approximately $5.4 million.
  • The CocaCola Company announced a quarterly dividend of $0.51 per share, representing an annualized yield of 3.0%, payable to shareholders on October 1st.
  • CocaCola reported a $0.87 EPS for the last quarter, exceeding analyst estimates, with a revenue of $12.50 billion, which was a 2.5% increase year-over-year.
  • Five stocks to consider instead of CocaCola.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,504 shares of the company's stock after selling 443,455 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in CocaCola were worth $5,408,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Sage Financial Management Group Inc. bought a new position in CocaCola during the 1st quarter valued at about $216,000. Voleon Capital Management LP bought a new position in CocaCola during the 4th quarter valued at about $2,513,000. Cornerstone Wealth Management LLC grew its holdings in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares during the last quarter. Finally, Investors Research Corp grew its holdings in CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after purchasing an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company'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 sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KO shares. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. 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. Finally, UBS Group dropped their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $77.21.

Check Out Our Latest Report on CocaCola

CocaCola Price Performance

KO traded up $0.09 on Monday, reaching $68.95. 10,691,012 shares of the company's stock were exchanged, compared to its average volume of 16,521,952. The stock has a market cap of $296.74 billion, a PE ratio of 24.45, a P/E/G ratio of 3.58 and a beta of 0.44. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock's fifty day moving average price is $70.33 and its 200-day moving average price is $69.69. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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 analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. CocaCola's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

CocaCola Profile

(Free Report)

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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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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