American International Group Inc. Has $76.66 Million Holdings in The Coca-Cola Company (NYSE:KO)

American International Group Inc. increased its holdings in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,205,156 shares of the company’s stock after buying an additional 34,662 shares during the quarter. Coca-Cola accounts for approximately 0.5% of American International Group Inc.’s holdings, making the stock its 22nd largest holding. American International Group Inc.’s holdings in Coca-Cola were worth $76,660,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KO. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the 1st quarter valued at about $77,000. Merit Financial Group LLC raised its stake in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after purchasing an additional 1,754 shares during the period. NewEdge Advisors LLC raised its stake in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,680 shares during the period. Ergoteles LLC raised its stake in shares of Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after purchasing an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares during the period. Institutional investors and hedge funds own 68.74% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, insider Henrique Braun sold 16,950 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $64.03, for a total transaction of $1,085,308.50. Following the completion of the sale, the insider now owns 26,272 shares in the company, valued at $1,682,196.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Nikolaos Koumettis sold 253,102 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $63.63, for a total value of $16,104,880.26. Following the completion of the sale, the insider now directly owns 184,563 shares in the company, valued at $11,743,743.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Henrique Braun sold 16,950 shares of Coca-Cola stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $64.03, for a total transaction of $1,085,308.50. Following the completion of the sale, the insider now owns 26,272 shares of the company’s stock, valued at $1,682,196.16. The disclosure for this sale can be found here. Insiders sold a total of 540,473 shares of company stock worth $33,992,699 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KO shares. Morgan Stanley lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. StockNews.com began coverage on Coca-Cola in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Credit Suisse Group set a $70.00 target price on Coca-Cola in a research report on Wednesday, February 15th. Evercore ISI lifted their target price on Coca-Cola from $68.00 to $70.00 in a research report on Tuesday, April 25th. Finally, UBS Group lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, February 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.80.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.15 during midday trading on Friday, reaching $60.26. 4,514,197 shares of the company’s stock were exchanged, compared to its average volume of 12,753,279. The Coca-Cola Company has a 52 week low of $54.01 and a 52 week high of $65.47. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.95 and a current ratio of 1.15. The firm has a market cap of $260.60 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 3.45 and a beta of 0.54. The stock’s 50-day simple moving average is $62.68 and its 200 day simple moving average is $61.85.

Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings data on Monday, April 24th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Coca-Cola had a return on equity of 42.96% and a net margin of 22.69%. The company had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.61 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Thursday, June 15th. Coca-Cola’s dividend payout ratio is presently 80.70%.

Coca-Cola Profile

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The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.