BI Asset Management Fondsmaeglerselskab A S bought a new stake in Coca-Cola Co (The) (NYSE:KO) during the 1st quarter, Holdings Channel reports. The fund bought 553,622 shares of the company’s stock, valued at approximately $24,498,000. Coca-Cola makes up 1.5% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 23rd largest position.
A number of other large investors also recently added to or reduced their stakes in KO. B. Riley Wealth Management Inc. raised its holdings in Coca-Cola by 76.1% in the fourth quarter. B. Riley Wealth Management Inc. now owns 37,580 shares of the company’s stock worth $2,080,000 after purchasing an additional 16,245 shares during the period. National Pension Service grew its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. National Pension Service now owns 4,485,325 shares of the company’s stock valued at $248,263,000 after buying an additional 298,886 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Coca-Cola by 11.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 37,613 shares of the company’s stock valued at $2,082,000 after buying an additional 3,791 shares in the last quarter. Americana Partners LLC acquired a new stake in Coca-Cola during the 4th quarter worth $68,000. Finally, Soltis Investment Advisors LLC bought a new position in Coca-Cola during the fourth quarter worth about $822,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.
In other Coca-Cola news, CEO James Quincey sold 66,673 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $59.08, for a total value of $3,939,040.84. Following the sale, the chief executive officer now owns 467,407 shares in the company, valued at $27,614,405.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Lisa Chang acquired 1,650 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $46.74 per share, with a total value of $77,121.00. Following the completion of the transaction, the senior vice president now owns 5,826 shares of the company’s stock, valued at $272,307.24. The disclosure for this purchase can be found here. Corporate insiders own 1.01% of the company’s stock.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.32 billion. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, equities research analysts expect that Coca-Cola Co will post 1.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, June 12th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.73%.
A number of equities research analysts have recently commented on KO shares. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $48.00 price target on the stock. in a research report on Tuesday, March 31st. Citigroup dropped their target price on shares of Coca-Cola from $63.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. UBS Group upped their price target on shares of Coca-Cola from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, January 31st. Deutsche Bank restated a “buy” rating and set a $53.00 price objective (down from $64.00) on shares of Coca-Cola in a report on Friday, March 20th. Finally, Cfra cut their price objective on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $54.55.
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 plant-based 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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