Crossvault Capital Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 63,875 shares of the company’s stock after acquiring an additional 3,458 shares during the quarter. The Coca-Cola comprises approximately 1.2% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Crossvault Capital Management LLC’s holdings in The Coca-Cola were worth $3,367,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC boosted its holdings in The Coca-Cola by 16.3% during the fourth quarter. FMR LLC now owns 56,240,715 shares of the company’s stock worth $3,084,241,000 after buying an additional 7,887,519 shares during the last quarter. Morgan Stanley raised its position in shares of The Coca-Cola by 7.5% during the fourth quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after purchasing an additional 3,397,649 shares during the period. Norges Bank acquired a new stake in shares of The Coca-Cola during the fourth quarter worth about $2,345,618,000. Bank of New York Mellon Corp raised its position in shares of The Coca-Cola by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after purchasing an additional 3,818,182 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of The Coca-Cola by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock worth $2,077,505,000 after purchasing an additional 1,995,835 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.
A number of research firms have recently commented on KO. Morgan Stanley raised their price target on The Coca-Cola from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 26th. Citigroup lifted their target price on The Coca-Cola from $54.00 to $57.00 in a research report on Tuesday, April 20th. Guggenheim lowered The Coca-Cola from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. JPMorgan Chase & Co. lowered The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Thursday, January 7th. Finally, Sanford C. Bernstein started coverage on The Coca-Cola in a research report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The Coca-Cola has a consensus rating of “Buy” and a consensus price target of $57.69.
In related news, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $50.46, for a total value of $25,280.46. Following the completion of the sale, the vice president now directly owns 10,224 shares in the company, valued at approximately $515,903.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alfredo Rivera sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $51.15, for a total value of $1,023,000.00. Following the completion of the sale, the insider now owns 62,000 shares of the company’s stock, valued at $3,171,300. The disclosure for this sale can be found here. Insiders have sold a total of 220,501 shares of company stock valued at $11,883,380 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.
Shares of NYSE:KO traded down $0.15 during trading on Tuesday, hitting $54.33. 127,518 shares of the company were exchanged, compared to its average volume of 17,970,572. The stock has a market cap of $234.25 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 5.70 and a beta of 0.58. The Coca-Cola Company has a fifty-two week low of $43.20 and a fifty-two week high of $54.93. The firm has a fifty day moving average price of $52.90 and a two-hundred day moving average price of $51.54. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 1.94.
The Coca-Cola (NYSE:KO) last issued its earnings results on Sunday, April 18th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The company had revenue of $9 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 1.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.09%. The Coca-Cola’s dividend payout ratio is currently 79.62%.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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