iA Global Asset Management Inc. Buys 11,920 Shares of CocaCola Company (The) $KO

by · The Markets Daily

iA Global Asset Management Inc. grew its holdings in CocaCola Company (The) (NYSE:KO – Free Report) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 200,370 shares of the company’s stock after acquiring an additional 11,920 shares during the quarter. iA Global Asset Management Inc.’s holdings in CocaCola were worth $13,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Sava Infond d.o.o. increased its holdings in shares of CocaCola by 210.8% during the second quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock worth $407,000 after buying an additional 3,900 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 buying an additional 6,241,163 shares during the last quarter. Perigon Wealth Management LLC boosted its position 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 purchasing an additional 4,469 shares in the last quarter. Aberdeen Group plc grew its position in shares of 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 buying an additional 216,752 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CocaCola in the 2nd quarter valued at $22,443,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE KO opened at $71.90 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a fifty day moving average price of $70.63 and a 200-day moving average price of $69.36. CocaCola Company has a 1 year low of $61.37 and a 1 year high of $74.38. The firm has a market cap of $309.29 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 3.70 and a beta of 0.39.

CocaCola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.46 billion. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. As a group, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. TD Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, Piper Sandler lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $79.08.

Read Our Latest Stock Report on KO

Insider Activity

In related news, COO Henrique Braun sold 40,390 shares of the stock in a transaction that occurred 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 approximately $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 31,625 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president directly owned 223,330 shares in the company, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,704 shares of company stock valued at $15,005,595 over the last three months. Corporate insiders own 0.97% of the company’s stock.

CocaCola Profile

(Free Report)

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.

Further Reading

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