Fifth Third Bancorp boosted its stake in shares of The Coca-Cola Company (NYSE: KO – Get Rating) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,450,057 shares of the company stock after acquiring an additional 45,252 shares during the quarter. Fifth Third Bancorp’s holdings in Coca-Cola were worth $ 89,904,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Security Financial Services INC. boosted its holdings in shares of Coca-Cola by 3.5% during the 1st quarter. Security Financial Services INC. now owns 4,710 shares of the company stock worth $ 292,000 after buying an additional 160 shares in the last quarter. Cohen Lawrence B raised its position in shares of Coca-Cola by 0.3% during the fourth quarter. Cohen Lawrence B now owns 51,742 shares of the company stock worth $ 3,064,000 after purchasing an additional 163 shares during the period. Aberdeen Wealth Management LLC raised its position in shares of Coca-Cola by 0.9% during the fourth quarter. Aberdeen Wealth Management LLC now owns 17,867 shares of the company stock worth $ 1,058,000 after purchasing an additional 167 shares during the period. McClarren Financial Advisors Inc. raised its position in shares of Coca-Cola by 18.5% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,077 shares of the company stock worth $ 64,000 after purchasing an additional 168 shares during the period. Finally, Boenning & Scattergood Inc. raised its position in shares of Coca-Cola by 0.4% during the first quarter. Boenning & Scattergood Inc. now owns 43,150 shares of the company stock worth $ 2,675,000 after purchasing an additional 169 shares during the period. 68.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on KO. Guggenheim upped their target price on Coca-Cola from $ 68.00 to $ 71.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Barclays set a $ 74.00 price target on Coca-Cola in a research report on Wednesday, April 27th. Citigroup increased their price target on Coca-Cola from $ 65.00 to $ 68.00 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $ 65.00 to $ 68.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Finally, Cowen increased their price target on Coca-Cola from $ 65.00 to $ 68.00 and gave the company a “market perform” rating in a research report 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 stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $ 68.05.
KO stock opened at $ 62.28 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.18. The company has a market capitalization of $ 269.99 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 3.66 and a beta of 0.58. The Coca-Cola Company has a fifty-two week low of $ 52.28 and a fifty-two week high of $ 67.20. The stock has a fifty day moving average of $ 63.25 and a 200-day moving average of $ 61.70.
Coca-Cola (NYSE: KO – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The company reported $ 0.64 earnings per share for the quarter, topping the consensus estimate of $ 0.58 by $ 0.06. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The company had revenue of $ 10.50 billion during the quarter, compared to the estimate consensus of $ 9.83 billion. During the same quarter in the prior year, the company earned $ 0.55 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Company will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a $ 0.44 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 1.76 annualized dividend and a yield of 2.83%. Coca-Cola’s dividend payout ratio is currently 73.95%.
In other Coca-Cola news, SVP Jennifer K. Mann sold 43,636 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $ 63.81, for a total value of $ 2,784,413.16. Following the completion of the transaction, the senior vice president now owns 66,245 shares in the company, valued at approximately $ 4,227,093.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 143,924 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $ 64.78, for a total value of $ 9,323,396.72. Following the completion of the transaction, the senior vice president now owns 121,178 shares of the company stock, valued at approximately $ 7,849,910.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 412,161 shares of company stock valued at $ 26,786,278. 0.98% of the stock is owned by corporate insiders.
Coca-Cola Company 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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