CocaCola Company (The) (NYSE:KO) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 453,622 shares of the company's stock after purchasing an additional 11,400 shares during the period. State of Alaska Department of Revenue's holdings in CocaCola were worth $32,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in KO. Charles Schwab Investment Management Inc. boosted its holdings in CocaCola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank acquired a new stake in shares of CocaCola during the 4th quarter worth approximately $3,402,151,000. Northern Trust Corp raised its position in shares of CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. lifted its holdings in CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares during the last quarter. Finally, Capital International Investors grew its position in CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of KO opened at $69.61 on Wednesday. The company has a market capitalization of $299.61 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 3.70 and a beta of 0.46. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.95.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

A number of research firms have commented on KO. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada raised their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $76.00.

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now directly owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

CocaCola 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.

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