Chemung Canal Trust Co. increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,235 shares of the company’s stock after buying an additional 4,746 shares during the quarter. Chemung Canal Trust Co.’s holdings in The Coca-Cola were worth $3,742,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. BlackRock Inc. raised its position in shares of The Coca-Cola by 1.1% in the third quarter. BlackRock Inc. now owns 301,442,831 shares of the company’s stock valued at $14,882,230,000 after buying an additional 3,404,545 shares in the last quarter. Morgan Stanley grew its stake in shares of The Coca-Cola by 3.2% during the third quarter. Morgan Stanley now owns 45,242,925 shares of the company’s stock worth $2,233,644,000 after buying an additional 1,413,048 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of The Coca-Cola by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 35,887,212 shares of the company’s stock worth $1,771,752,000 after buying an additional 1,552,809 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of The Coca-Cola by 1.7% in the third quarter. California Public Employees Retirement System now owns 25,306,518 shares of the company’s stock worth $1,249,383,000 after purchasing an additional 424,155 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in The Coca-Cola by 12.8% during the second quarter. Principal Financial Group Inc. now owns 10,361,388 shares of the company’s stock valued at $462,946,000 after acquiring an additional 1,176,700 shares during the last quarter. 60.00% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:KO traded up $0.05 during mid-day trading on Wednesday, hitting $50.16. 17,772,995 shares of the company’s stock were exchanged, compared to its average volume of 28,033,625. The Coca-Cola Company has a one year low of $36.27 and a one year high of $60.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.13 and a quick ratio of 1.01. The business has a fifty day moving average price of $52.90 and a 200 day moving average price of $49.95. The company has a market cap of $215.56 billion, a PE ratio of 26.13, a P/E/G ratio of 6.74 and a beta of 0.57.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, November 30th. This represents a $1.64 annualized dividend and a yield of 3.27%. The Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.
A number of equities research analysts recently weighed in on the stock. HSBC lowered their target price on shares of The Coca-Cola from $61.00 to $58.00 in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Thursday, January 7th. BidaskClub downgraded shares of The Coca-Cola from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley raised their price objective on shares of The Coca-Cola from $57.00 to $59.00 in a report on Thursday, December 17th. Finally, Guggenheim downgraded shares of The Coca-Cola from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.41.
In other The Coca-Cola news, Director David B. Weinberg sold 200,000 shares of The Coca-Cola stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $50.12, for a total value of $10,024,000.00. Following the completion of the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at $17,803,325.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Weinberg sold 100,000 shares of The Coca-Cola stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $49.75, for a total transaction of $4,975,000.00. Insiders sold 400,000 shares of company stock valued at $20,264,000 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. 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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