Canada Pension Plan Investment Board lessened its stake in shares of The Coca-Cola Co (NYSE:KO) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,980,528 shares of the company’s stock after selling 705,016 shares during the period. Canada Pension Plan Investment Board owned about 0.14% of The Coca-Cola worth $283,154,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Transamerica Financial Advisors Inc. increased its holdings in shares of The Coca-Cola by 567.7% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock valued at $41,000 after purchasing an additional 721 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of The Coca-Cola in the 4th quarter valued at about $45,000. Cordasco Financial Network increased its holdings in shares of The Coca-Cola by 26.1% in the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock valued at $49,000 after purchasing an additional 214 shares during the period. Country Trust Bank increased its holdings in shares of The Coca-Cola by 2,506.7% in the 4th quarter. Country Trust Bank now owns 1,173 shares of the company’s stock valued at $56,000 after purchasing an additional 1,128 shares during the period. Finally, Financial Advantage Inc. acquired a new position in shares of The Coca-Cola in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 66.99% of the company’s stock.
A number of equities analysts have recently weighed in on KO shares. Royal Bank of Canada reiterated a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a report on Monday, November 19th. Macquarie reiterated a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a report on Tuesday, December 4th. Jefferies Financial Group reiterated a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Monday, December 10th. UBS Group reiterated a “neutral” rating and issued a $51.00 target price (up previously from $50.00) on shares of The Coca-Cola in a report on Thursday, December 13th. Finally, Bank of America set a $55.00 target price on The Coca-Cola and gave the company a “buy” rating in a report on Friday, December 14th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.60.
Shares of NYSE KO opened at $45.30 on Friday. The company has a market capitalization of $193.25 billion, a P/E ratio of 21.78, a PEG ratio of 3.10 and a beta of 0.51. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $50.84. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.05 and a quick ratio of 0.95.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.07 billion. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities analysts forecast that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a $0.40 dividend. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.53%. The Coca-Cola’s payout ratio is presently 75.00%.
In other The Coca-Cola news, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $48.76, for a total transaction of $1,060,139.92. Following the completion of the sale, the insider now owns 92,645 shares of the company’s stock, valued at $4,517,370.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $48.50, for a total value of $485,000.00. Following the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,493,282.50. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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