CocaCola Company (The) $KO Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 313,438 shares of the company’s stock after selling 32,186 shares during the period. Pacer Advisors Inc.’s holdings in CocaCola were worth $20,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. 1248 Management LLC purchased a new stake in shares of CocaCola during the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its position in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Headlands Technologies LLC purchased a new stake in CocaCola during the 2nd quarter valued at about $26,000. GFG Capital LLC purchased a new stake in CocaCola during the 2nd quarter valued at about $34,000. Finally, MMA Asset Management LLC acquired a new position in shares of CocaCola in the second quarter valued at about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KO shares. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Piper Sandler lifted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company upped their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen raised their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, UBS Group restated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and a consensus price target of $79.08.

CocaCola Stock Down 0.3%

KO stock opened at $69.90 on Friday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The firm’s fifty day moving average is $70.51 and its 200 day moving average is $69.39. The firm has a market cap of $300.69 billion, a PE ratio of 23.15, a P/E/G ratio of 3.88 and a beta of 0.39.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion for the quarter. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insiders Place Their Bets

In other news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Max R. Levchin bought 7,206 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. This represents a 102.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is owned by insiders.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.