BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $45.57 Million Stock Holdings in CocaCola Company (The) $KO

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of CocaCola Company (The) (NYSE:KO) by 17.7% in the second quarter, HoldingsChannel.com reports. The fund owned 644,120 shares of the company’s stock after selling 138,534 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CocaCola were worth $45,571,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brevan Howard Capital Management LP lifted its position in CocaCola by 164.1% during the second quarter. Brevan Howard Capital Management LP now owns 67,288 shares of the company’s stock worth $4,761,000 after purchasing an additional 41,807 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of CocaCola by 15.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,547,882 shares of the company’s stock valued at $251,013,000 after buying an additional 462,600 shares in the last quarter. Gould Capital LLC lifted its holdings in shares of CocaCola by 0.6% during the 2nd quarter. Gould Capital LLC now owns 48,376 shares of the company’s stock worth $3,423,000 after acquiring an additional 278 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of CocaCola during the 2nd quarter worth approximately $2,343,000. Finally, Florida Financial Advisors LLC increased its stake in CocaCola by 8.1% in the second quarter. Florida Financial Advisors LLC now owns 9,079 shares of the company’s stock valued at $642,000 after acquiring an additional 683 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In other news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, Bank of America boosted their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One investment 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, the stock has an average rating of “Buy” and an average target price of $79.08.

CocaCola Price Performance

Shares of KO opened at $70.51 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $303.29 billion, a PE ratio of 23.35, a PEG ratio of 3.84 and a beta of 0.39. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business has a 50-day simple moving average of $69.85 and a two-hundred day simple moving average of $69.50.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is 67.55%.

About CocaCola

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.