Iberiabank Corp lessened its stake in The Coca-Cola Co (NYSE:KO) by 1.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,535 shares of the company’s stock after selling 1,201 shares during the quarter. Iberiabank Corp’s holdings in The Coca-Cola were worth $4,149,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of KO. Norges Bank purchased a new stake in shares of The Coca-Cola during the fourth quarter worth $1,717,527,000. Oregon Public Employees Retirement Fund grew its holdings in shares of The Coca-Cola by 4,577.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock valued at $415,000 after purchasing an additional 19,215,135 shares during the period. FMR LLC grew its holdings in shares of The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after purchasing an additional 11,126,961 shares during the period. BlackRock Inc. grew its holdings in shares of The Coca-Cola by 2.9% in the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after purchasing an additional 7,272,015 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after purchasing an additional 4,528,987 shares during the period. 66.79% of the stock is owned by institutional investors.
Shares of NYSE KO traded down $0.16 during mid-day trading on Friday, hitting $50.92. 16,339,865 shares of the company were exchanged, compared to its average volume of 12,180,831. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02. The business’s 50 day moving average is $50.19. The Coca-Cola Co has a 1-year low of $43.31 and a 1-year high of $52.20. The company has a market capitalization of $217.91 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 3.50 and a beta of 0.50.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Deutsche Bank reaffirmed a “buy” rating and issued a $53.00 target price on shares of The Coca-Cola in a research report on Thursday, April 18th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, HSBC cut shares of The Coca-Cola from a “buy” rating to a “hold” rating and decreased their target price for the company from $64.00 to $50.00 in a research report on Tuesday, March 12th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.05.
In related news, insider Jennifer K. Mann sold 9,000 shares of The Coca-Cola stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the sale, the insider now owns 41,049 shares in the company, valued at approximately $2,129,622.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Beatriz R. Perez sold 14,094 shares of The Coca-Cola stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the sale, the senior vice president now owns 108,551 shares of the company’s stock, valued at approximately $5,373,274.50. The disclosure for this sale can be found here. Insiders have sold a total of 316,600 shares of company stock valued at $15,760,365 in the last ninety days. Corporate insiders own 1.33% of the company’s stock.
About The Coca-Cola
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 plantbased 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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