This article first appeared on GuruFocus.
More ETFs bought than sold Coca-Cola (KO) on Tuesday, Oct. 13, but the larger trades were on the sell side, leaving ETFs as net sellers of $54.5 million. Twenty-five ETFs added shares while 17 reduced their positions. The move followed four straight days of net buying, including $77.3 million on Oct. 12 and $23.6 million on Oct. 8. ETF activity on Tuesday broke that run of inflows.
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 XLP ($52.2 million), SPY ($7.3 million) and USMV ($2.6 million). In all, 25 ETFs added shares and 17 cut them.
The largest seller was the Consumer Staples Select Sector SPDR Fund (XLP), which cut its stake by 4.72%, or $52.2 million, and still held 11,680,554 shares at a 7.65% portfolio weight. The SPDR S&P 500 ETF Trust (SPY) trimmed its position by $7.3 million, while the iShares MSCI USA Min Vol Factor ETF (USMV) sold $2.6 million. Smaller reductions came from NOBL, USCA, USCL, FTCS and UDOW. Coca-Cola operates in the Consumer Defensive sector and the Beverages – Non-Alcoholic industry, with a market cap of $394.9 billion.
Have ETFs been buying or selling KO lately?
Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, 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 a gross margin of 62.0% and a net margin of 28.3%. Its P/E ratio is 27.65, P/B is 10.92 and P/S is 7.83. The company has a GF Score of 76, and its GF Value of $73.54 compares with a price of $91.78. The dividend yield is 2.33%, and the stock is up 33.83% year to date.