J.P. Marvel Investment Advisors LLC grew its stake in The Coca-Cola Co (NYSE:KO) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,022 shares of the company’s stock after purchasing an additional 200 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in The Coca-Cola were worth $4,546,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its position in The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after purchasing an additional 7,272,015 shares during the last quarter. FMR LLC grew its position in The Coca-Cola by 22.2% in the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after purchasing an additional 11,126,961 shares during the last quarter. Northern Trust Corp grew its position in The Coca-Cola by 3.6% in 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 during the last quarter. Geode Capital Management LLC grew its position in The Coca-Cola by 10.8% in 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 during the last quarter. Finally, Norges Bank bought a new position in The Coca-Cola in the 4th quarter worth about $1,717,527,000. Institutional investors and hedge funds own 66.79% of the company’s stock.
In related news, SVP Robert Edward Long sold 30,412 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total value of $1,519,687.64. Following the transaction, the senior vice president now directly owns 57,538 shares in the company, valued at approximately $2,875,173.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer K. Mann sold 9,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the transaction, the insider now owns 41,049 shares in the company, valued at $2,129,622.12. The disclosure for this sale can be found here. Insiders sold a total of 316,600 shares of company stock worth $15,760,365 over the last quarter. 1.33% of the stock is currently owned by company insiders.
Shares of KO opened at $50.91 on Monday. The Coca-Cola Co has a 12 month low of $42.96 and a 12 month high of $52.19. The firm has a market cap of $218.89 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.51 and a beta of 0.50. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. During the same period last year, the business posted $0.47 EPS. The Coca-Cola’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Co will post 2.09 earnings per share 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. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. The Coca-Cola’s payout ratio is presently 76.92%.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, April 26th. Morgan Stanley upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $55.00 in a research report on Tuesday, May 14th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Co increased their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.05.
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The Coca-Cola Company 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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