OLD Republic International Corp Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

OLD Republic International Corp cut its position in The Coca-Cola Company (NYSE:KO) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,042,300 shares of the company’s stock after selling 11,000 shares during the period. Coca-Cola makes up approximately 2.3% of OLD Republic International Corp’s portfolio, making the stock its 14th largest position. OLD Republic International Corp’s holdings in Coca-Cola were worth $61,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Coca-Cola by 5.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,113,228 shares of the company’s stock valued at $62,321,000 after acquiring an additional 54,480 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Coca-Cola by 1.0% during the third quarter. Park Avenue Securities LLC now owns 76,294 shares of the company’s stock worth $4,271,000 after buying an additional 738 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new stake in Coca-Cola in the 3rd quarter valued at $224,000. Gratus Capital LLC boosted its stake in Coca-Cola by 10.1% in the third quarter. Gratus Capital LLC now owns 43,966 shares of the company’s stock valued at $2,461,000 after buying an additional 4,026 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new stake in Coca-Cola in the third quarter worth approximately $385,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. UBS Group upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.27.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 380,405 shares of company stock valued at $23,209,645. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Coca-Cola stock traded up $0.41 during midday trading on Friday, hitting $63.29. The stock had a trading volume of 3,080,713 shares, compared to its average volume of 13,708,053. The stock has a market cap of $272.65 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.53 and a beta of 0.57. The business has a fifty day moving average price of $60.43 and a 200 day moving average price of $59.35. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.25. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is presently 77.60%.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.