The Coca-Cola Company (NYSE:KO) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850,802 shares of the company's stock after acquiring an additional 46,541 shares during the quarter. CIBC Asset Management Inc's holdings in Coca-Cola were worth $61,122,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the 1st quarter valued at about $28,000. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 40,334 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. The trade was a 35.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Finally, Cfra reiterated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.36.

Coca-Cola Stock Performance

Shares of KO traded down $0.86 during trading hours on Friday, reaching $61.69. 15,662,772 shares of the company traded hands, compared to its average volume of 13,317,098. The Coca-Cola Company has a 12-month low of $56.70 and a 12-month high of $73.53. The stock has a market capitalization of $265.75 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a fifty day moving average price of $68.82 and a 200-day moving average price of $66.48.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's payout ratio is 80.17%.

Coca-Cola 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.