UBS Asset Management Americas Inc. Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

UBS Asset Management Americas Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 32.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,149,841 shares of the company’s stock after buying an additional 5,210,303 shares during the period. The Coca-Cola makes up approximately 0.5% of UBS Asset Management Americas Inc.’s holdings, making the stock its 29th largest holding. UBS Asset Management Americas Inc. owned about 0.49% of The Coca-Cola worth $1,144,418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its holdings in shares of The Coca-Cola by 1.9% in the second quarter. Proficio Capital Partners LLC now owns 10,839 shares of the company’s stock worth $586,000 after buying an additional 199 shares during the period. Engine NO. 1 LLC purchased a new position in The Coca-Cola during the 2nd quarter valued at about $671,000. Investment Advisory Services Inc. TX ADV purchased a new position in The Coca-Cola during the 2nd quarter valued at about $2,946,000. Cubist Systematic Strategies LLC increased its holdings in The Coca-Cola by 147.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 373,058 shares of the company’s stock valued at $20,186,000 after purchasing an additional 222,014 shares during the period. Finally, United Services Automobile Association increased its holdings in The Coca-Cola by 19.7% during the 2nd quarter. United Services Automobile Association now owns 1,434,023 shares of the company’s stock valued at $77,580,000 after purchasing an additional 235,722 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.

NYSE KO traded up $0.35 during mid-day trading on Thursday, reaching $55.87. The stock had a trading volume of 331,913 shares, compared to its average volume of 15,636,253. The Coca-Cola Company has a 1 year low of $47.30 and a 1 year high of $57.56. The stock has a market cap of $240.89 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62. The company has a fifty day moving average price of $55.17 and a 200 day moving average price of $55.00. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.47 and a quick ratio of 1.25.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 26th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.72 billion. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. As a group, equities research analysts expect that The Coca-Cola Company will post 2.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.01%. The Coca-Cola’s dividend payout ratio (DPR) is 86.15%.

In related news, COO Brian John Smith sold 10,000 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $55.65, for a total value of $556,500.00. Following the completion of the transaction, the chief operating officer now owns 144,229 shares of the company’s stock, valued at approximately $8,026,343.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy Quan sold 6,625 shares of the company’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $57.08, for a total transaction of $378,155.00. Following the completion of the transaction, the senior vice president now directly owns 176,701 shares of the company’s stock, valued at approximately $10,086,093.08. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

A number of brokerages recently issued reports on KO. Truist boosted their price target on The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on The Coca-Cola from $60.00 to $59.00 and set a “hold” rating on the stock in a report on Friday, October 15th. UBS Group boosted their price target on The Coca-Cola from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. Royal Bank of Canada lifted their price objective on The Coca-Cola from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. set a $59.00 price objective on The Coca-Cola in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $61.44.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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