United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lowered its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 42.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518,959 shares of the company's stock after selling 383,957 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Coca-Cola were worth $32,310,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Fort Sheridan Advisors LLC increased its holdings in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock valued at $311,000 after acquiring an additional 161 shares in the last quarter. Excalibur Management Corp grew its position in shares of Coca-Cola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock valued at $1,831,000 after purchasing an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC raised its position in shares of Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock worth $225,000 after purchasing an additional 164 shares during the last quarter. Atlas Brown Inc. raised its position in shares of Coca-Cola by 0.8% during the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company's stock worth $1,309,000 after purchasing an additional 166 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Coca-Cola by 0.4% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company's stock valued at $2,440,000 after buying an additional 169 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Coca-Cola
In related news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 in the last 90 days. 0.97% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler raised their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, DZ Bank upgraded 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. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $74.24.
Read Our Latest Analysis on Coca-Cola
Coca-Cola Stock Down 0.5 %
NYSE:KO traded down $0.38 during trading hours on Friday, hitting $70.36. The stock had a trading volume of 17,408,790 shares, compared to its average volume of 14,889,152. The company has a market cap of $302.80 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business has a 50 day simple moving average of $67.77 and a two-hundred day simple moving average of $66.45. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.
Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.
Coca-Cola Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is currently 82.59%.
Coca-Cola Profile
(
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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