TD Asset Management Inc. Sells 121,137 Shares of The Coca-Cola Company (NYSE:KO)

TD Asset Management Inc. reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,666,809 shares of the company’s stock after selling 121,137 shares during the quarter. TD Asset Management Inc. owned 0.06% of Coca-Cola worth $166,036,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Howard Capital Management Group LLC increased its holdings in shares of Coca-Cola by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares in the last quarter. Davis R M Inc. raised its position in Coca-Cola by 12.6% in the third quarter. Davis R M Inc. now owns 17,575 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,965 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Coca-Cola by 81.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 10,416 shares of the company’s stock valued at $748,000 after purchasing an additional 4,669 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Coca-Cola by 4.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 6,020 shares of the company’s stock worth $433,000 after purchasing an additional 280 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Coca-Cola by 17.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,810,705 shares of the company’s stock valued at $201,977,000 after buying an additional 417,353 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock opened at $68.85 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company’s 50-day moving average is $67.28 and its 200-day moving average is $66.40. The stock has a market capitalization of $296.30 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.96%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KO shares. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.