O Shaughnessy Asset Management LLC increased its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,597 shares of the company's stock after purchasing an additional 34,118 shares during the period. O Shaughnessy Asset Management LLC's holdings in Coca-Cola were worth $35,214,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in KO. Rice Partnership LLC grew 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 valued at $6,397,000 after buying an additional 6,793 shares during the period. Fiduciary Alliance LLC grew its position in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after acquiring an additional 8,499 shares during the period. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Coca-Cola in the 4th quarter worth about $1,582,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock valued at $13,814,000 after purchasing an additional 132,701 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Coca-Cola
In other news, insider Nikolaos Koumettis sold 54,708 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on KO shares. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.24.
Check Out Our Latest Analysis on KO
Coca-Cola Stock Up 1.9 %
Shares of KO stock traded up $1.32 during trading hours on Monday, hitting $71.69. 24,012,229 shares of the company were exchanged, compared to its average volume of 14,925,514. The stock has a market capitalization of $308.50 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business's 50-day simple moving average is $67.77 and its two-hundred day simple moving average is $66.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.
Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.
Coca-Cola Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola's dividend payout ratio is 82.59%.
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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