Fmr LLC lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,263,329 shares of the company’s stock after selling 9,876,300 shares during the quarter. Fmr LLC’s holdings in The Coca-Cola were worth $2,402,200,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. Northern Trust Corp boosted its position in shares of The Coca-Cola by 3.6% during the 4th quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock worth $2,394,872,000 after purchasing an additional 1,771,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after purchasing an additional 4,528,987 shares in the last quarter. Norges Bank purchased a new stake in shares of The Coca-Cola during the 4th quarter worth $1,717,527,000. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of The Coca-Cola by 4,577.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock worth $415,000 after purchasing an additional 19,215,135 shares in the last quarter. 66.79% of the stock is currently owned by institutional investors.
In related news, SVP Nancy Quan sold 23,320 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the transaction, the senior vice president now owns 165,049 shares of the company’s stock, valued at approximately $7,914,099.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francisco Crespo sold 16,426 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total transaction of $804,874.00. Following the completion of the transaction, the insider now directly owns 77,109 shares of the company’s stock, valued at approximately $3,778,341. The disclosure for this sale can be found here. Insiders sold a total of 316,600 shares of company stock valued at $15,760,365 in the last three months. 1.33% of the stock is currently owned by corporate insiders.
Shares of The Coca-Cola stock traded down $0.52 on Monday, hitting $50.79. The company’s stock had a trading volume of 135,216 shares, compared to its average volume of 11,673,510. The Coca-Cola Co has a 52-week low of $42.96 and a 52-week high of $52.19. The firm has a market capitalization of $218.89 billion, a PE ratio of 24.42, a P/E/G ratio of 3.51 and a beta of 0.50. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.48.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that The Coca-Cola Co will post 2.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s payout ratio is 76.92%.
Several equities research analysts have commented on KO shares. Deutsche Bank restated a “buy” rating and set a $53.00 target price on shares of The Coca-Cola in a research report on Thursday, April 18th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, April 26th. Barclays set a $54.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley boosted their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $51.05.
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The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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