US Bancorp DE Lowers Holdings in CocaCola Company (The) (NYSE:KO)

Key Points

• US Bancorp DE has reduced its holdings in CocaCola by 1.8%, selling 81,146 shares, leaving it with 4,322,870 shares valued at approximately $309.6 million.
• CocaCola reported $0.87 earnings per share (EPS) for its latest quarter, exceeding estimates, and achieved a net margin of 25.89% with revenues of $12.50 billion.
• The company declared a quarterly dividend of $0.51 per share, scheduled for payment on October 1, reflecting a 3.0% dividend yield.

US Bancorp DE cut its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,322,870 shares of the company's stock after selling 81,146 shares during the period. US Bancorp DE owned 0.10% of CocaCola worth $309,604,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after acquiring an additional 5,891,034 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of CocaCola by 119.0% during the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock worth $588,871,000 after acquiring an additional 5,139,352 shares in the last quarter. Northern Trust Corp raised its holdings in shares of CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of CocaCola by 18.2% during the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after acquiring an additional 3,791,300 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Performance

Shares of CocaCola stock opened at $67.90 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock's fifty day moving average is $70.39 and its two-hundred day moving average is $69.54. The company has a market capitalization of $292.23 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 3.58 and a beta of 0.45.

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

CocaCola Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on KO shares. JPMorgan Chase & Co. upped their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group decreased their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $77.21.

Insider Transactions at CocaCola

In related news, CFO John Murphy sold 88,658 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the company'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 owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently 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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