Covea Finance Has $28.80 Million Holdings in CocaCola Company (The) $KO

Covea Finance raised its holdings in CocaCola Company (The) (NYSE:KO) by 32.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 434,200 shares of the company’s stock after acquiring an additional 105,600 shares during the period. Covea Finance’s holdings in CocaCola were worth $28,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sava Infond d.o.o. boosted its position in CocaCola by 210.8% in the second quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after buying an additional 3,900 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after acquiring an additional 4,469 shares in the last quarter. Aberdeen Group plc grew its position in CocaCola by 5.0% during the 2nd quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock worth $322,455,000 after acquiring an additional 216,752 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. TD Cowen raised their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $79.08.

CocaCola Price Performance

Shares of NYSE KO opened at $69.99 on Friday. The company has a market capitalization of $301.07 billion, a PE ratio of 23.18, a P/E/G ratio of 3.89 and a beta of 0.39. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a fifty day simple moving average of $70.48 and a 200 day simple moving average of $69.42.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share 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 during the quarter. On average, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction dated Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is owned by insiders.

CocaCola Profile

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.