National Pension Service raised its position in shares of The Coca-Cola Co (NYSE:KO) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,182,220 shares of the company’s stock after purchasing an additional 106,039 shares during the period. The Coca-Cola makes up approximately 0.7% of National Pension Service’s investment portfolio, making the stock its 28th biggest position. National Pension Service’s holdings in The Coca-Cola were worth $146,000,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Veritas Investment Management LLP acquired a new position in shares of The Coca-Cola during the third quarter worth $135,000. Spectrum Management Group Inc. acquired a new position in shares of The Coca-Cola during the third quarter worth $137,000. Legacy Advisors LLC acquired a new position in shares of The Coca-Cola during the third quarter worth $139,000. Almanack Investment Partners LLC. acquired a new position in shares of The Coca-Cola during the second quarter worth $142,000. Finally, Shine Investment Advisory Services Inc. increased its holdings in shares of The Coca-Cola by 102.2% during the third quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock worth $143,000 after buying an additional 1,610 shares in the last quarter. Institutional investors and hedge funds own 65.13% of the company’s stock.
Several research analysts have recently issued reports on KO shares. Evercore ISI upgraded shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Deutsche Bank started coverage on shares of The Coca-Cola in a report on Wednesday, December 13th. They set a “buy” rating and a $52.00 price target for the company. Finally, Vetr raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price objective on the stock in a research note on Monday, December 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus target price of $49.24.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.36 billion. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. equities research analysts expect that The Coca-Cola Co will post 2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.55%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is 548.15%.
In other news, insider Ed Hays sold 84,400 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $47.50, for a total transaction of $4,009,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert Edward Long sold 15,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the transaction, the insider now directly owns 24,673 shares in the company, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold 122,640 shares of company stock worth $5,800,776 in the last ninety days. Insiders own 1.51% of the company’s stock.
The Coca-Cola Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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