Cantor Fitzgerald Investment Advisor LP grew its holdings in shares of The Coca-Cola Company (NYSE: KO – Get Rating) by 76.7% in the first quarter, HoldingsChannel.com reports. The fund owned 27,234 shares of the company stock after acquiring an additional 11,825 shares during the quarter. Cantor Fitzgerald Investment Advisor L.P’s holdings in Coca-Cola were worth $ 1,689,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of KO. Norges Bank acquired a new position in shares of Coca-Cola during the 4th quarter valued at $ 2,222,027,000. Nordea Investment Management AB raised its holdings in shares of Coca-Cola by 120.1% during the fourth quarter. Nordea Investment Management AB now owns 23,263,360 shares of the company stock valued at $ 1,365,443,000 after purchasing an additional 12,694,169 shares during the period. BlackRock Inc. boosted its position in shares of Coca-Cola by 3.7% during the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company stock worth $ 16,563,519,000 after purchasing an additional 9,884,447 shares in the last quarter. abrdn plc grew its stake in shares of Coca-Cola by 144.5% in the 4th quarter. abrdn plc now owns 5,790,891 shares of the company stock valued at $ 342,878,000 after buying an additional 3,422,105 shares during the period. Finally, State Street Corp increased its position in Coca-Cola by 1.8% in the 4th quarter. State Street Corp now owns 170,597,908 shares of the company stock valued at $ 10,101,102,000 after buying an additional 2,984,878 shares in the last quarter. 68.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on KO shares. Truist Financial raised their objective price on Coca-Cola from $ 70.00 to $ 75.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $ 62.00 to $ 64.00 and gave the stock a “hold” rating in a report on Tuesday, April 26th. 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, March 30th. HSBC upped their target price on shares of Coca-Cola from $ 68.00 to $ 72.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Finally, Cowen lifted their price target on Coca-Cola from $ 65.00 to $ 68.00 and gave the company a “market perform” rating in a research note on Tuesday, April 26th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $ 68.05.
In other news, COO Brian John Smith sold 35,800 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $ 67.04, for a total value of $ 2,400,032.00. Following the sale, the chief operating officer now owns 116,168 shares of the company stock, valued at $ 7,787,902.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 143,924 shares of the company stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $ 64.78, for a total transaction of $ 9,323,396.72. Following the sale, the senior vice president now owns 121,178 shares in the company, valued at $ 7,849,910.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,161 shares of company stock valued at $ 26,786,278. 0.98% of the stock is currently owned by company insiders.
Shares of NYSE: KO opened at $ 61.15 on Thursday. The Coca-Cola Company has a 1 year low of $ 52.28 and a 1 year high of $ 67.20. The company has a market capitalization of $ 265.09 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.52 and a beta of 0.58. The business has a fifty day moving average price of $ 63.44 and a two-hundred day moving average price of $ 61.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.98.
Coca-Cola (NYSE: KO – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The company reported $ 0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.58 by $ 0.06. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The company had revenue of $ 10.50 billion for the quarter, compared to the estimate consensus of $ 9.83 billion. During the same period in the previous year, the firm earned $ 0.55 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $ 0.44 per share. This represents a $ 1.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, June 14th. Coca-Cola’s dividend payout ratio is currently 73.95%.
Coca-Cola Profile: (Get Rating)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-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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