Xact Kapitalforvaltning AB raised its stake in The Coca-Cola Co (NYSE:KO) by 9.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 415,165 shares of the company’s stock after acquiring an additional 37,263 shares during the period. Xact Kapitalforvaltning AB’s holdings in The Coca-Cola were worth $18,031,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in KO. BlackRock Inc. lifted its position in shares of The Coca-Cola by 1.9% in the first quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock worth $10,705,725,000 after purchasing an additional 4,526,566 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of The Coca-Cola by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 38,150,109 shares of the company’s stock worth $1,746,387,000 after purchasing an additional 1,170,700 shares in the last quarter. Suntrust Banks Inc. lifted its position in shares of The Coca-Cola by 0.5% in the fourth quarter. Suntrust Banks Inc. now owns 19,870,669 shares of the company’s stock worth $911,665,000 after purchasing an additional 99,827 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of The Coca-Cola by 11.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 17,857,938 shares of the company’s stock worth $819,322,000 after purchasing an additional 1,869,038 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of The Coca-Cola by 1.6% in the fourth quarter. Swiss National Bank now owns 16,741,490 shares of the company’s stock worth $768,100,000 after purchasing an additional 264,100 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on KO. Zacks Investment Research lowered shares of The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Tuesday. Macquarie reissued a “neutral” rating and issued a $47.00 price objective on shares of The Coca-Cola in a research report on Wednesday, June 13th. Societe Generale set a $46.50 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Wednesday, April 25th. Jefferies Financial Group reissued a “neutral” rating and issued a $44.00 price objective on shares of The Coca-Cola in a research report on Friday, May 25th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $56.00 price objective on shares of The Coca-Cola in a research report on Monday, April 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.42.
The Coca-Cola opened at $43.47 on Friday, MarketBeat Ratings reports. The Coca-Cola Co has a one year low of $41.45 and a one year high of $48.62. The firm has a market capitalization of $183.73 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 2.55 and a beta of 0.73. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.12 and a current ratio of 1.21.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The Coca-Cola had a net margin of 4.23% and a return on equity of 39.54%. The firm had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 3.59%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
The Coca-Cola Profile
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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