OLD Republic International Corp Has $75.01 Million Stake in CocaCola Company (The) (NYSE:KO)

OLD Republic International Corp boosted its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,047,300 shares of the company's stock after purchasing an additional 5,000 shares during the period. CocaCola comprises approximately 2.9% of OLD Republic International Corp's investment portfolio, making the stock its 4th biggest position. OLD Republic International Corp's holdings in CocaCola were worth $75,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of CocaCola during the fourth quarter worth $3,402,151,000. Northern Trust Corp increased its holdings in shares of CocaCola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. increased 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 buying an additional 6,118,819 shares in the last quarter. Capital International Investors increased its holdings in shares of CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of CocaCola by 18.2% during the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after buying an additional 3,791,300 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. Company insiders own 0.97% of the company's stock.

CocaCola Stock Down 1.3%

Shares of KO traded down $0.91 during trading hours on Tuesday, hitting $70.10. The stock had a trading volume of 3,433,209 shares, compared to its average volume of 16,132,605. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $71.06 and a 200-day simple moving average of $68.70. The firm has a market capitalization of $301.73 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company 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 firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. CocaCola's dividend payout ratio is presently 81.60%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KO. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Royal Bank Of Canada increased their price objective on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Barclays restated an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $76.27.

About CocaCola

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.