Triangle Securities Wealth Management boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,192 shares of the company’s stock after purchasing an additional 3,965 shares during the period. Triangle Securities Wealth Management’s holdings in The Coca-Cola were worth $1,644,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of KO. United Bank raised its position in shares of The Coca-Cola by 26.0% during the 3rd quarter. United Bank now owns 67,140 shares of the company’s stock valued at $3,315,000 after purchasing an additional 13,865 shares during the period. Great West Life Assurance Co. Can raised its holdings in The Coca-Cola by 0.3% during the third quarter. Great West Life Assurance Co. Can now owns 3,744,579 shares of the company’s stock valued at $184,732,000 after acquiring an additional 11,183 shares during the period. OLD Mission Capital LLC purchased a new position in shares of The Coca-Cola in the third quarter valued at about $244,000. IHT Wealth Management LLC lifted its position in shares of The Coca-Cola by 18.2% in the third quarter. IHT Wealth Management LLC now owns 51,054 shares of the company’s stock valued at $2,521,000 after acquiring an additional 7,878 shares in the last quarter. Finally, Chiron Capital Management LLC bought a new position in shares of The Coca-Cola in the third quarter worth about $316,000. Institutional investors and hedge funds own 65.99% of the company’s stock.
A number of research analysts recently commented on the company. Royal Bank of Canada raised The Coca-Cola from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $60.00 in a report on Monday, March 15th. Deutsche Bank Aktiengesellschaft lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Tuesday, January 5th. Sanford C. Bernstein started coverage on shares of The Coca-Cola in a report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 price target on the stock. Morgan Stanley cut their price objective on The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, January 14th. Finally, JPMorgan Chase & Co. downgraded 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $54.86.
In other news, insider Nikolaos Koumettis sold 60,000 shares of the business’s stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $53.30, for a total value of $3,198,000.00. Following the completion of the sale, the insider now owns 145,011 shares in the company, valued at approximately $7,729,086.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alfredo Rivera sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the completion of the sale, the insider now directly owns 62,000 shares of the company’s stock, valued at approximately $3,171,300. The disclosure for this sale can be found here. Insiders sold 80,501 shares of company stock valued at $4,246,280 in the last quarter. 1.01% of the stock is owned by company insiders.
KO traded up $0.34 during trading on Monday, reaching $53.52. The company had a trading volume of 73,372 shares, compared to its average volume of 18,954,674. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 1.94. The business has a 50 day simple moving average of $51.24 and a 200-day simple moving average of $51.04. The stock has a market cap of $230.63 billion, a P/E ratio of 27.70, a PEG ratio of 5.70 and a beta of 0.58. The Coca-Cola Company has a 52 week low of $43.20 and a 52 week high of $54.93.
The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.62 billion. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. As a group, equities research analysts expect that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.14%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 12th. The Coca-Cola’s payout ratio is 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.
Recommended Story: What is the Russell 2000 Index?
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:KO).