Baillie Gifford & Co. Sells 11,845 Shares of CocaCola Company (The) $KO

Baillie Gifford & Co. decreased its holdings in shares of CocaCola Company (The) (NYSE:KOFree Report) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 770,376 shares of the company’s stock after selling 11,845 shares during the quarter. Baillie Gifford & Co.’s holdings in CocaCola were worth $51,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the period. Norges Bank bought a new position in CocaCola in the 2nd quarter worth about $3,846,270,000. Legal & General Group Plc grew its holdings in CocaCola by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock valued at $1,930,170,000 after buying an additional 285,794 shares in the last quarter. Invesco Ltd. increased its position in shares of CocaCola by 10.9% during the second quarter. Invesco Ltd. now owns 25,328,083 shares of the company’s stock valued at $1,791,962,000 after buying an additional 2,497,585 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of CocaCola by 15.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,557,659 shares of the company’s stock worth $1,312,954,000 after buying an additional 2,423,914 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KO shares. TD Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Wells Fargo & Company boosted their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Thursday. Finally, Piper Sandler upped their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $79.08.

Read Our Latest Stock Analysis on KO

Insider Activity at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 211,704 shares of company stock valued at $15,005,595. Insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

NYSE KO opened at $72.93 on Friday. CocaCola Company has a 52-week low of $61.44 and a 52-week high of $74.38. The company has a fifty day moving average of $70.66 and a 200-day moving average of $69.36. The company has a market capitalization of $313.69 billion, a P/E ratio of 24.15, a P/E/G ratio of 3.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

Trending Headlines about CocaCola

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CocaCola Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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