Puzo Michael J acquired a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, HoldingsChannel reports. The fund acquired 6,825 shares of the company’s stock, valued at approximately $313,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its position in shares of The Coca-Cola by 1.0% during the 4th quarter. CIBC Asset Management Inc now owns 518,511 shares of the company’s stock valued at $23,789,000 after buying an additional 5,353 shares in the last quarter. Linscomb & Williams Inc. lifted its position in shares of The Coca-Cola by 6.7% during the 4th quarter. Linscomb & Williams Inc. now owns 113,204 shares of the company’s stock valued at $5,194,000 after buying an additional 7,067 shares in the last quarter. Redmond Asset Management LLC purchased a new position in shares of The Coca-Cola during the 4th quarter valued at approximately $297,000. Checchi Capital Advisers LLC lifted its holdings in The Coca-Cola by 7.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 73,932 shares of the company’s stock valued at $3,392,000 after purchasing an additional 5,012 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in The Coca-Cola in the 4th quarter valued at $404,000. Institutional investors and hedge funds own 66.12% of the company’s stock.
Shares of The Coca-Cola stock opened at $43.46 on Monday. The Coca-Cola Company has a 52 week low of $41.91 and a 52 week high of $48.62. The stock has a market capitalization of $185,396.27, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.59%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 577.78%.
KO has been the topic of a number of research reports. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Wednesday, December 27th. TheStreet lowered The Coca-Cola from a “b” rating to a “c+” rating in a report on Thursday, November 30th. Credit Suisse Group restated an “outperform” rating and issued a $53.00 price objective (up previously from $51.00) on shares of The Coca-Cola in a report on Tuesday, February 20th. Finally, Wells Fargo upgraded The Coca-Cola from a “hold” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $51.00 in a report on Sunday, November 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $49.21.
In related news, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the completion of the sale, the insider now directly owns 98,995 shares of the company’s stock, valued at approximately $4,454,775. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 124,523 shares of company stock valued at $5,885,511 over the last three months. Corporate insiders own 1.48% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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