Arbor Wealth Advisors LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,447 shares of the company’s stock, valued at approximately $439,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its holdings in Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Coca-Cola by 4.1% in 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 last quarter. Northern Trust Corp raised its holdings in shares of Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after acquiring an additional 1,963,963 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after acquiring an additional 1,949,500 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Trading Up 0.1 %
Shares of NYSE:KO traded up $0.09 during midday trading on Tuesday, reaching $60.64. The company’s stock had a trading volume of 13,687,837 shares, compared to its average volume of 13,898,879. The firm has a market cap of $261.43 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The business has a 50 day moving average price of $59.98 and a 200 day moving average price of $58.72.
Coca-Cola Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.20%. Coca-Cola’s dividend payout ratio is presently 78.23%.
Insider Transactions at Coca-Cola
In other news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was 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 375,407 shares of company stock valued at $22,795,742 over the last quarter. Company insiders own 0.97% of the company’s stock.
Wall Street Analysts Forecast Growth
KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.09.
View Our Latest Research Report on KO
Coca-Cola Company Profile
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.
Featured Articles
- Five stocks we like better than Coca-Cola
- How to Invest in the FAANG Stocks
- Charles Schwab Fortifies its Uptrend on EPS Beat
- 3 Stocks to Consider Buying in October
- Lockheed Martin Stock Aims for a Fresh All-Time High
- How Can Investors Benefit From After-Hours Trading
- Beyond the Halving: The Future of Bitcoin Mining Stocks
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 – Free Report).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.