CIBC Asset Management Inc Has $61.12 Million Holdings in The Coca-Cola Company (NYSE:KO)

CIBC Asset Management Inc grew its position in shares of The Coca-Cola Company (NYSE:KO) by 5.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 850,802 shares of the company’s stock after acquiring an additional 46,541 shares during the period. CIBC Asset Management Inc’s holdings in Coca-Cola were worth $61,122,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at about $26,000. Quarry LP bought a new position in shares of Coca-Cola in the 2nd quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC bought a new stake in Coca-Cola during the third quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter valued at approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.7 %

Shares of NYSE:KO opened at $62.55 on Friday. The company has a market capitalization of $269.43 billion, a PE ratio of 25.85, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company’s fifty day moving average is $68.99 and its 200-day moving average is $66.51. The Coca-Cola Company has a 52 week low of $56.70 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.10%. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on KO shares. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.