KBC Group NV Reduces Holdings in CocaCola Company (The) $KO

KBC Group NV lessened its holdings in CocaCola Company (The) (NYSE:KO) by 59.4% during the 2nd quarter, Holdings Channel reports. The firm owned 1,125,036 shares of the company’s stock after selling 1,646,426 shares during the quarter. KBC Group NV’s holdings in CocaCola were worth $79,596,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC lifted its stake 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 worth $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 buying an additional 1,794,561 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CocaCola in the 2nd quarter valued at about $22,443,000. Roundview Capital LLC increased its stake in shares of CocaCola by 9.1% during the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after acquiring an additional 2,923 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its stake in shares of CocaCola by 72.6% during the 2nd quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after acquiring an additional 85,950 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other CocaCola news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KO shares. UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. BNP Paribas restated an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, Wells Fargo & Company increased their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Stock Up 1.5%

Shares of NYSE:KO opened at $71.59 on Wednesday. The firm has a market cap of $307.97 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a fifty day simple moving average of $67.84 and a 200 day simple moving average of $69.49. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is 67.55%.

CocaCola Company Profile

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.