TD Asset Management Inc. lowered its position in The Coca-Cola Co (NYSE:KO) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,614,044 shares of the company’s stock after selling 311,486 shares during the quarter. TD Asset Management Inc. owned about 0.13% of The Coca-Cola worth $259,313,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. WP Advisors LLC bought a new position in The Coca-Cola in the second quarter valued at $107,000. Signature Estate & Investment Advisors LLC bought a new position in The Coca-Cola in the second quarter valued at $116,000. Westbourne Investment Advisors Inc. bought a new position in The Coca-Cola in the third quarter valued at $117,000. Fort L.P. bought a new position in The Coca-Cola in the second quarter valued at $122,000. Finally, Sageworth Trust Co increased its stake in The Coca-Cola by 69.5% in the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after acquiring an additional 1,200 shares during the last quarter. 65.45% of the stock is currently owned by hedge funds and other institutional investors.
NYSE KO opened at $49.37 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $49.55. The stock has a market cap of $209.50 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.16%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
KO has been the topic of a number of research analyst reports. Macquarie set a $47.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Stifel Nicolaus reissued a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Monday, July 16th. JPMorgan Chase & Co. reissued a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a research report on Tuesday, July 17th. Finally, Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. The Coca-Cola has a consensus rating of “Hold” and a consensus target price of $51.22.
In other news, insider Brian John Smith sold 43,000 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the sale, the insider now directly owns 123,908 shares in the company, valued at $5,947,584. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Francisco Crespo sold 54,200 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $48.50, for a total transaction of $2,628,700.00. Following the sale, the senior vice president now owns 96,026 shares of the company’s stock, valued at $4,657,261. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,954 shares of company stock valued at $6,313,250. 1.48% of the stock is currently owned by company insiders.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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