Townsquare Capital LLC Trims Stake in CocaCola Company (The) $KO

Townsquare Capital LLC lowered its stake in CocaCola Company (The) (NYSE:KO) by 52.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,714 shares of the company’s stock after selling 55,181 shares during the quarter. Townsquare Capital LLC’s holdings in CocaCola were worth $3,297,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KO. Sava Infond d.o.o. boosted its holdings in CocaCola by 210.8% during the 2nd quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after acquiring an additional 3,900 shares during the period. Vanguard Group Inc. lifted its position in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of CocaCola by 5.0% in the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock valued at $322,455,000 after purchasing an additional 216,752 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of CocaCola in the second quarter valued at approximately $22,443,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in CocaCola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,408,798 shares of the company’s stock worth $690,311,000 after buying an additional 198,886 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on KO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $83.00 target price on shares of CocaCola in a research note on Thursday. Wells Fargo & Company raised their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Piper Sandler increased their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $79.69.

Insider Activity

In related news, COO Henrique Braun sold 40,390 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% 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 link. Also, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This trade represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 211,704 shares of company stock valued at $15,005,595. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $73.39 on Friday. The firm’s fifty day simple moving average is $70.83 and its 200-day simple moving average is $69.46. CocaCola Company has a 12 month low of $62.35 and a 12 month high of $74.38. The stock has a market capitalization of $315.70 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

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.