Jackson Thornton Wealth Management LLC bought a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,539 shares of the company's stock, valued at approximately $623,000.
Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of CocaCola during the 4th quarter worth $3,402,151,000. Northern Trust Corp increased its position in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Franklin Resources Inc. lifted its holdings in shares of CocaCola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Capital International Investors boosted 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 valued at $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in CocaCola by 18.2% in the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after purchasing an additional 3,791,300 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
Insider Activity
In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were 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 owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by corporate insiders.
CocaCola Trading Up 0.4%
Shares of KO opened at $71.19 on Friday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market capitalization of $306.42 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.74 and a beta of 0.45. The firm has a 50-day moving average price of $71.08 and a 200 day moving average price of $68.56. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.
CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current year.
CocaCola Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio is presently 81.60%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Royal Bank Of Canada increased their target price on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $76.27.
View Our Latest Stock Analysis on KO
About CocaCola
(
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 CocaCola Company (The) (NYSE:KO - Free Report).
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