AMF Tjanstepension AB Sells 1,053,664 Shares of The Coca-Cola Company (NYSE:KO)

AMF Tjanstepension AB lessened its position in The Coca-Cola Company (NYSE:KO) by 52.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 973,525 shares of the company’s stock after selling 1,053,664 shares during the period. AMF Tjanstepension AB’s holdings in Coca-Cola were worth $58,723,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Morgan Stanley boosted its stake in shares of Coca-Cola by 15.7% during the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after purchasing an additional 10,722,435 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Coca-Cola by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 76,982,020 shares of the company’s stock valued at $4,764,721,000 after purchasing an additional 1,087,974 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coca-Cola by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,636,577 shares of the company’s stock valued at $3,728,653,000 after purchasing an additional 2,546,489 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after purchasing an additional 57,678,466 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $2,937,315,000. Institutional investors own 68.96% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO John Murphy sold 156,290 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares of the company’s stock, valued at $14,210,343. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The disclosure for this sale can be found here. Insiders sold a total of 227,364 shares of company stock valued at $14,122,016 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Coca-Cola Stock Down 0.3 %

KO opened at $58.28 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 1-year low of $54.01 and a 1-year high of $64.99. The company has a market capitalization of $252.02 billion, a PE ratio of 24.05, a PEG ratio of 3.42 and a beta of 0.55. The firm’s 50 day simple moving average is $60.62 and its two-hundred day simple moving average is $61.28.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, equities analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.16%. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com initiated coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. HSBC cut their price objective on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Finally, Wedbush upped their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

About Coca-Cola

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.