Wahed Invest LLC Acquires 5,707 Shares of The Coca-Cola Company (NYSE:KO)

Wahed Invest LLC grew its position in The Coca-Cola Company (NYSE:KOFree Report) by 10.3% during the third quarter, HoldingsChannel.com reports. The fund owned 61,355 shares of the company’s stock after acquiring an additional 5,707 shares during the quarter. Coca-Cola comprises 1.1% of Wahed Invest LLC’s investment portfolio, making the stock its 16th biggest position. Wahed Invest LLC’s holdings in Coca-Cola were worth $3,435,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in Coca-Cola by 1.0% during the 2nd quarter. State Street Corp now owns 171,246,926 shares of the company’s stock valued at $10,390,407,000 after buying an additional 1,628,772 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coca-Cola by 2.8% during the second quarter. Geode Capital Management LLC now owns 79,165,884 shares of the company’s stock worth $4,754,907,000 after acquiring an additional 2,183,864 shares during the period. Morgan Stanley grew its holdings in Coca-Cola by 15.7% during the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after acquiring an additional 10,722,435 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after acquiring an additional 2,464,618 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its holdings in Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after acquiring an additional 57,678,466 shares during the period. 68.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on KO. JPMorgan Chase & Co. raised their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays increased their price target on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Jefferies Financial Group started coverage on Coca-Cola in a research report on Monday, November 13th. They set a “hold” rating and a $64.00 price target on the stock. Finally, Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

View Our Latest Stock Report on KO

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. Insiders sold 391,516 shares of company stock valued at $23,636,810 in the last ninety days. Insiders own 1.00% of the company’s stock.

Coca-Cola Trading Down 0.5 %

Shares of NYSE KO traded down $0.33 during trading on Friday, reaching $59.69. The stock had a trading volume of 5,956,364 shares, compared to its average volume of 13,903,083. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The business’s 50-day moving average price is $59.79 and its 200-day moving average price is $58.30. The company has a market cap of $257.41 billion, a P/E ratio of 24.17, a PEG ratio of 3.42 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. On average, equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.25%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

About Coca-Cola

(Free Report)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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