Asset Management One Co. Ltd. cut its position in shares of The Coca-Cola Co (NYSE:KO) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,672,485 shares of the company’s stock after selling 80,309 shares during the quarter. The Coca-Cola comprises 0.7% of Asset Management One Co. Ltd.’s investment portfolio, making the stock its 27th biggest holding. Asset Management One Co. Ltd. owned approximately 0.16% of The Coca-Cola worth $300,289,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Veritas Investment Management LLP bought a new position in The Coca-Cola during the third quarter valued at approximately $135,000. Spectrum Management Group Inc. purchased a new stake in The Coca-Cola during the third quarter valued at approximately $137,000. Eagle Ridge Investment Management purchased a new stake in The Coca-Cola during the second quarter valued at approximately $138,000. Legacy Advisors LLC purchased a new stake in The Coca-Cola during the third quarter valued at approximately $139,000. Finally, Almanack Investment Partners LLC. purchased a new stake in The Coca-Cola during the second quarter valued at approximately $142,000. Institutional investors own 65.34% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating on shares of The Coca-Cola in a report on Tuesday. Susquehanna Bancshares set a $45.00 price target on The Coca-Cola and gave the stock a “hold” rating in a report on Monday. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $46.04 to $55.00 in a report on Friday, January 12th. Goldman Sachs Group set a $49.00 target price on The Coca-Cola and gave the company a “sell” rating in a research report on Wednesday, January 10th. Finally, Vetr cut The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 price objective for the company. in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Hold” and an average price target of $49.01.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is currently 140.95%.
In related news, insider Ed Hays sold 84,400 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares in the company, valued at approximately $5,713,185.40. The disclosure for this sale can be found here. Insiders have sold 122,640 shares of company stock worth $5,800,776 in the last ninety days. Corporate insiders own 1.51% of the company’s stock.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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