Spire Wealth Management decreased its stake in The Coca-Cola Company (NYSE: KO – Get Rating) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,904 shares of the company stock after selling 8,612 shares during the quarter. Spire Wealth Management’s holdings in Coca-Cola were worth $ 4,582,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Coca-Cola by 3.7% in the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company stock valued at $ 16,563,519,000 after buying an additional 9,884,447 shares in the last quarter. State Street Corp raised its position in shares of Coca-Cola by 1.8% during the fourth quarter. State Street Corp now owns 170,597,908 shares of the company stock worth $ 10,101,102,000 after acquiring an additional 2,984,878 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 69,443,905 shares of the company stock worth $ 4,102,043,000 after acquiring an additional 2,035,444 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,269,019 shares of the company stock worth $ 2,976,429,000 after acquiring an additional 2,213,153 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Coca-Cola during the fourth quarter worth $ 2,222,027,000. 68.51% of the stock is currently owned by institutional investors and hedge funds.
KO stock opened at $ 63.04 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.98. The stock has a market capitalization of $ 273.28 billion, a P / E ratio of 26.49, a P / E / G 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 business has a 50-day moving average of $ 63.34 and a 200-day moving average of $ 61.65.
Coca-Cola (NYSE: KO – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $ 0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.58 by $ 0.06. The business had revenue of $ 10.50 billion during the quarter, compared to the consensus estimate of $ 9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. Coca-Cola’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $ 0.55 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be issued a dividend of $ 0.44 per share. The ex-dividend date is Tuesday, June 14th. This represents a $ 1.76 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is presently 73.95%.
In other Coca-Cola news, insider Nikolaos Koumettis sold 153,466 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $ 65.03, for a total value of $ 9,979,893.98. Following the completion of the transaction, the insider now directly owns 136,513 shares in the company, valued at $ 8,877,440.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 35,335 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $ 65.05, for a total value of $ 2,298,541.75. Following the completion of the transaction, the senior vice president now owns 198,456 shares of the company stock, valued at $ 12,909,562.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,161 shares of company stock valued at $ 26,786,278. 0.98% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $ 62.00 to $ 64.00 and gave the stock a “hold” rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $ 65.00 to $ 68.00 and gave the company an “overweight” rating in a report on Wednesday, March 30th. Guggenheim upped their price target on Coca-Cola from $ 68.00 to $ 71.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. HSBC upped their price objective on Coca-Cola from $ 68.00 to $ 72.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Finally, Barclays set a $ 74.00 price target on Coca-Cola in a report on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $ 68.05.
About Coca-Cola: (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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