The Coca-Cola Company (NYSE:KO) Shares Sold by CI Investments Inc.

CI Investments Inc. trimmed its stake in The Coca-Cola Company (NYSE:KOGet Rating) by 34.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,475,775 shares of the company’s stock after selling 784,822 shares during the quarter. CI Investments Inc.’s holdings in Coca-Cola were worth $92,841,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LFA Lugano Financial Advisors SA bought a new position in Coca-Cola in the 2nd quarter worth approximately $34,000. Rational Advisors LLC acquired a new position in shares of Coca-Cola during the first quarter valued at $37,000. San Luis Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter valued at about $41,000. CFS Investment Advisory Services LLC raised its stake in shares of Coca-Cola by 6,088.9% during the first quarter. CFS Investment Advisory Services LLC now owns 2,871,158 shares of the company’s stock valued at $46,000 after purchasing an additional 2,824,766 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in Coca-Cola by 43.0% in the first quarter. Tortoise Investment Management LLC now owns 884 shares of the company’s stock worth $55,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 68.93% of the company’s stock.

Coca-Cola Stock Up 0.4 %

Shares of NYSE:KO traded up $0.28 on Thursday, reaching $62.63. The company had a trading volume of 8,990,385 shares, compared to its average volume of 13,046,908. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $270.84 billion, a P/E ratio of 27.35, a P/E/G ratio of 4.12 and a beta of 0.57. The stock has a 50-day moving average price of $58.33 and a 200 day moving average price of $61.28. The Coca-Cola Company has a twelve month low of $52.28 and a twelve month high of $67.20.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.76 annualized dividend and a yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. Wolfe Research assumed coverage on shares of Coca-Cola in a report on Tuesday, October 11th. They issued an “outperform” rating and a $63.00 price objective for the company. Barclays increased their target price on shares of Coca-Cola from $62.00 to $67.00 in a research note on Wednesday, October 26th. Wedbush started coverage on Coca-Cola in a research report on Monday, October 10th. They set an “outperform” rating and a $63.00 target price on the stock. Morgan Stanley decreased their price target on Coca-Cola from $74.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, October 4th. Finally, Jefferies Financial Group cut their price objective on Coca-Cola from $66.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, October 11th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Insider Activity

In related news, SVP Nancy Quan sold 13,746 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $61.12, for a total value of $840,155.52. Following the transaction, the senior vice president now directly owns 184,710 shares in the company, valued at approximately $11,289,475.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Nancy Quan sold 13,746 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $61.12, for a total value of $840,155.52. Following the sale, the senior vice president now owns 184,710 shares in the company, valued at $11,289,475.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Randazza sold 42,068 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $60.86, for a total transaction of $2,560,258.48. Following the completion of the sale, the insider now directly owns 40,146 shares of the company’s stock, valued at $2,443,285.56. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

About Coca-Cola

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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