Crewe Advisors LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) during the 1st quarter, Holdings Channel reports. The fund purchased 2,766 shares of the company’s stock, valued at approximately $169,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $2,808,056,000. Price T Rowe Associates Inc. MD boosted its position in Coca-Cola by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after buying an additional 2,893,061 shares during the period. Dimensional Fund Advisors LP boosted its position in Coca-Cola by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock worth $894,028,000 after buying an additional 814,779 shares during the period. Vontobel Asset Management Inc. boosted its position in Coca-Cola by 2.7% during the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after buying an additional 378,447 shares during the period. Finally, California Public Employees Retirement System boosted its position in Coca-Cola by 16.4% during the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares during the period. 70.26% of the stock is owned by institutional investors.
Insider Buying and Selling at Coca-Cola
In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 841,588 shares of company stock worth $568,972,027. 0.97% of the stock is owned by corporate insiders.
Coca-Cola Stock Up 0.4 %
Coca-Cola (NYSE:KO – Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.49%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.84 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.
Wall Street Analyst Weigh In
KO has been the topic of several recent research reports. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $70.25.
Get Our Latest Stock Report on KO
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.
See Also
- Five stocks we like better than Coca-Cola
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- High Flyers: 3 Natural Gas Stocks for March 2022
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- EV Stocks and How to Profit from Them
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO – Free Report).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.