JARISLOWSKY FRASER Ltd lessened its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,038 shares of the company's stock after selling 15,480 shares during the quarter. JARISLOWSKY FRASER Ltd's holdings in Coca-Cola were worth $3,738,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Voleon Capital Management LP bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $2,513,000. Rice Partnership LLC boosted its stake in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Fiduciary Alliance LLC grew its holdings in Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $1,582,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after acquiring an additional 10,240 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
Insider Transactions at Coca-Cola
In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 over the last three months. 0.97% of the stock is currently owned by insiders.
Coca-Cola Stock Performance
NYSE:KO traded down $1.03 during trading hours on Monday, hitting $69.50. 21,514,494 shares of the company were exchanged, compared to its average volume of 15,539,625. The company's 50 day moving average price is $70.94 and its 200-day moving average price is $66.65. The stock has a market capitalization of $299.13 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.
Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on KO shares. UBS Group boosted their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of "Buy" and a consensus target price of $75.59.
Read Our Latest Analysis on Coca-Cola
About Coca-Cola
(
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.
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