Kinneret Advisory LLC Invests $4.50 Million in The Coca-Cola Co (KO)

Kinneret Advisory LLC purchased a new stake in shares of The Coca-Cola Co (NYSE:KO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,074 shares of the company’s stock, valued at approximately $4,502,000. The Coca-Cola accounts for approximately 1.3% of Kinneret Advisory LLC’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of KO. Vanguard Group Inc. grew its holdings in The Coca-Cola by 1.4% during the third quarter. Vanguard Group Inc. now owns 289,055,893 shares of the company’s stock worth $13,351,492,000 after acquiring an additional 3,918,108 shares during the period. Vanguard Group Inc grew its holdings in The Coca-Cola by 1.4% during the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock worth $13,351,492,000 after acquiring an additional 3,918,108 shares during the period. BlackRock Inc. grew its holdings in The Coca-Cola by 2.9% during the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. Northern Trust Corp grew its holdings in The Coca-Cola by 3.6% during the fourth quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock worth $2,394,872,000 after acquiring an additional 1,771,500 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in The Coca-Cola by 4,577.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock worth $415,000 after acquiring an additional 19,215,135 shares during the period. 67.83% of the stock is currently owned by institutional investors.

Shares of NYSE KO opened at $46.95 on Wednesday. The Coca-Cola Co has a one year low of $41.45 and a one year high of $50.84. The stock has a market cap of $200.50 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.14 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.05 and a quick ratio of 0.95.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Thursday, February 14th. The company reported $0.43 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.43. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company posted $0.39 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Co will post 2.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.

In related news, SVP Beatriz R. Perez sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $48.50, for a total value of $485,000.00. Following the transaction, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,493,282.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Beatriz R. Perez sold 21,742 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the completion of the transaction, the insider now directly owns 92,645 shares in the company, valued at $4,517,370.20. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

A number of research firms recently issued reports on KO. Zacks Investment Research raised The Coca-Cola from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co lifted their target price on The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday. HSBC lowered The Coca-Cola from a “buy” rating to a “hold” rating and lowered their target price for the stock from $64.00 to $50.00 in a report on Tuesday, March 12th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a report on Wednesday, February 13th. Finally, UBS Group reaffirmed a “neutral” rating and set a $50.00 target price on shares of The Coca-Cola in a report on Friday, February 15th. Sixteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.60.

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

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