Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Coca-Cola Co (The) (NYSE:KO) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,131,816 shares of the company’s stock after selling 168,800 shares during the period. Coca-Cola accounts for about 0.8% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s investment portfolio, making the stock its 21st biggest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Coca-Cola were worth $50,083,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. PrairieView Partners LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth approximately $27,000. Pearl River Capital LLC acquired a new position in Coca-Cola during the first quarter worth $30,000. Stonebridge Financial Planning Group LLC bought a new stake in Coca-Cola during the fourth quarter worth $38,000. HighMark Wealth Management LLC acquired a new stake in Coca-Cola in the fourth quarter valued at $44,000. Finally, Wealth Alliance bought a new position in shares of Coca-Cola in the 4th quarter valued at about $90,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.
Shares of KO traded down $0.14 during mid-day trading on Friday, hitting $45.03. 13,007,667 shares of the company’s stock were exchanged, compared to its average volume of 17,496,358. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 1.57. Coca-Cola Co has a 52 week low of $36.27 and a 52 week high of $60.13. The stock’s 50-day simple moving average is $45.85 and its 200-day simple moving average is $51.99. The firm has a market cap of $194.00 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, June 12th. Coca-Cola’s payout ratio is currently 77.73%.
In other news, SVP Lisa Chang purchased 1,650 shares of Coca-Cola stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $46.74 per share, for a total transaction of $77,121.00. Following the transaction, the senior vice president now owns 5,826 shares of the company’s stock, valued at approximately $272,307.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 66,673 shares of Coca-Cola stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $59.08, for a total transaction of $3,939,040.84. Following the completion of the transaction, the chief executive officer now directly owns 467,407 shares in the company, valued at $27,614,405.56. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.
KO has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Coca-Cola from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Goldman Sachs Group initiated coverage on Coca-Cola in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $46.00 price objective for the company. Morgan Stanley boosted their target price on Coca-Cola from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, March 25th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $53.00 price objective (down from $64.00) on shares of Coca-Cola in a research report on Friday, March 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Coca-Cola has a consensus 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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