The Coca-Cola Company (NYSE:KO) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its stake in The Coca-Cola Company (NYSE:KO) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,300 shares of the company’s stock after selling 10,700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Coca-Cola were worth $11,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $188,448,000. M&G Plc acquired a new stake in Coca-Cola during the first quarter valued at approximately $157,087,000. Finally, Raymond James & Associates lifted its position in shares of Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after acquiring an additional 1,866,348 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.87.

Coca-Cola Stock Performance

Shares of KO opened at $67.30 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market cap of $289.93 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The company’s fifty day moving average is $70.74 and its 200-day moving average is $65.96.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Activity

In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.