Epoch Investment Partners Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

Epoch Investment Partners Inc. decreased its holdings in The Coca-Cola Company (NYSE:KO) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,681,002 shares of the company’s stock after selling 227,516 shares during the quarter. Epoch Investment Partners Inc.’s holdings in The Coca-Cola were worth $90,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its holdings in The Coca-Cola by 536.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,465,534 shares of the company’s stock worth $498,928,000 after purchasing an additional 7,977,794 shares in the last quarter. FMR LLC increased its holdings in The Coca-Cola by 8.3% in the 2nd quarter. FMR LLC now owns 66,609,004 shares of the company’s stock worth $3,604,214,000 after buying an additional 5,089,439 shares in the last quarter. Vontobel Asset Management Inc. increased its holdings in The Coca-Cola by 49.8% in the 1st quarter. Vontobel Asset Management Inc. now owns 11,872,856 shares of the company’s stock worth $649,350,000 after buying an additional 3,945,728 shares in the last quarter. Vanguard Group Inc. increased its holdings in The Coca-Cola by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 343,527,606 shares of the company’s stock worth $18,588,279,000 after buying an additional 3,940,364 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in The Coca-Cola by 56.4% in the 2nd quarter. Bank of Montreal Can now owns 10,906,943 shares of the company’s stock worth $599,881,000 after buying an additional 3,933,597 shares in the last quarter. 66.67% of the stock is owned by institutional investors.

In other news, SVP Nancy Quan sold 6,625 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $57.08, for a total value of $378,155.00. Following the transaction, the senior vice president now owns 176,701 shares in the company, valued at $10,086,093.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian John Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $55.65, for a total value of $556,500.00. Following the completion of the transaction, the chief operating officer now owns 144,229 shares in the company, valued at approximately $8,026,343.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,188 shares of company stock worth $3,864,107. Company insiders own 1.01% of the company’s stock.

Shares of KO stock traded up $0.46 during mid-day trading on Thursday, reaching $54.70. The stock had a trading volume of 153,537 shares, compared to its average volume of 15,688,121. The business’s fifty day moving average is $55.35 and its 200-day moving average is $54.94. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The firm has a market cap of $235.85 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.85 and a beta of 0.62. The Coca-Cola Company has a 1-year low of $47.30 and a 1-year high of $57.56.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 20th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.30 billion. The Coca-Cola had a return on equity of 44.17% and a net margin of 22.19%. The Coca-Cola’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, analysts forecast that The Coca-Cola Company will post 2.25 earnings per share for the current year.

A number of analysts have issued reports on KO shares. Credit Suisse Group lifted their price objective on The Coca-Cola from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, July 22nd. Jefferies Financial Group boosted their target price on The Coca-Cola from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, July 16th. Truist boosted their price objective on The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. Argus boosted their price objective on The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, June 17th. Finally, Wells Fargo & Company upped their target price on The Coca-Cola from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, July 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.25.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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