This article first appeared on GuruFocus.
ETFs sold a net $32.9 million of Coca-Cola (KO) on Friday, a modest pullback in ETF flows. More funds traded the other way, with 28 ETFs buying versus 18 selling, but in smaller amounts. The move follows a $72.9 million net inflow on Thursday and a $5.6 million net outflow on Wednesday. It marks the first day of net selling in the current streak.
More on GuruFocus: ETF Trends | ETF Screener
Every ETF and guru trade in KO is tracked on the KO guru trades page.
Which ETFs sold KO on Friday?
The largest sellers by dollar value were XLP ($39.1 million), SPY ($19.5 million) and DIA ($2.2 million). In all, 28 ETFs added shares and 18 cut them.
The Consumer Staples Select Sector SPDR (XLP) drove the selling, cutting its stake by 3.46% for a $39.1 million reduction, while holding a 7.5% weight. SPDR S&P 500 ETF Trust (SPY) trimmed $19.5 million, and SPDR Dow Jones Industrial Average ETF (DIA) shed $2.2 million. Smaller reductions came from USMV, XLG, MTUM, IWF and DVY. Coca-Cola sits in the Consumer Defensive sector, 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 2 and net sellers on 3, so the recent trend is mostly selling.
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 27.93, P/B of 11.03 and P/S of 7.91. Its GF Score is 78, and the GF Value of $73.49 compares with a price of $92.70. The dividend yield is 2.29%, and shares are up 35.17% year to date.
KO at a glance
For a closer look, open the KO stock summary, its GF Value chart and insider buying and selling.