This article first appeared on GuruFocus.
ETFs sold $65.0 million in Coca-Cola (KO) shares in Tuesday’s session, a net outflow driven by more dollars leaving than entering. More funds traded the other way, with 30 ETFs buying versus 20 selling, but in smaller amounts. The move follows a mixed stretch: net buying of $18.7 million on Oct. 19 and $1.8 million on Oct. 16, after net selling of $14.2 million on Oct. 15 and net buying of $57.0 million on Oct. 14. ETF activity snapped a two-day buying run.
See which funds are buying and selling on GuruFocus ETF Trends, or find and compare funds with the ETF Screener.
Every ETF and guru trade in KO is tracked on the KO guru trades page.
Which ETFs sold KO on Tuesday?
The largest sellers by dollar value were IYK ($37.8 million), XLP ($19.7 million) and SPY ($13.2 million). In all, 30 ETFs added shares and 20 cut them.
IYK accounted for the largest share of the selling, cutting 404,639 shares for a $37.8 million reduction, a 17.38% drop in its stake at a 13.73% portfolio weight. XLP shed 210,660 shares worth $19.7 million, while SPY trimmed 141,057 shares for $13.2 million. Smaller reductions came from IVV at $2.7 million, SSO at $1.3 million, MTUM at $1.2 million, DGRW at $0.8 million and RSP at $0.4 million. Coca-Cola sits in the Consumer Defensive sector and the Beverages – Non-Alcoholic industry, with a market cap of $398.8 billion.
Have ETFs been buying or selling KO lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does KO do?
The Coca-Cola Company is the world’s largest nonalcoholic beverage company, selling its products in more than 200 countries and territories.
Coca-Cola reported trailing-12-month revenue of $50.57 billion, up 7.5% year over year, with gross margin of 62.0% and net margin of 28.3%. The stock trades at a P/E of 27.92, P/B of 11.03 and P/S of 7.9, against a $398.8 billion market cap. Its GF Score is 76, and at $92.68 the price sits above the GF Value of $73.52. The dividend yield is 2.28%, and the shares have returned 35.15% year to date.