Cibc World Markets Corp Has $109.24 Million Holdings in The Coca-Cola Company (NYSE:KO)

Cibc World Markets Corp boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 71.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,754,564 shares of the company’s stock after buying an additional 732,709 shares during the quarter. Coca-Cola makes up approximately 0.6% of Cibc World Markets Corp’s holdings, making the stock its 29th largest holding. Cibc World Markets Corp’s holdings in Coca-Cola were worth $109,239,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Arbor Capital Management Inc. ADV lifted its stake in shares of Coca-Cola by 1.8% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 30,057 shares of the company’s stock valued at $1,901,000 after purchasing an additional 543 shares during the period. IMG Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at $158,000. Signature Wealth Management Group increased its position in shares of Coca-Cola by 5.1% in the 4th quarter. Signature Wealth Management Group now owns 16,184 shares of the company’s stock valued at $1,008,000 after buying an additional 787 shares in the last quarter. SlateStone Wealth LLC increased its holdings in Coca-Cola by 22.8% during the 4th quarter. SlateStone Wealth LLC now owns 110,901 shares of the company’s stock worth $6,905,000 after purchasing an additional 20,578 shares in the last quarter. Finally, GWN Securities Inc. bought a new position in Coca-Cola during the 4th quarter worth about $2,452,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $69.16 on Monday. The firm has a market cap of $297.47 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company’s fifty day simple moving average is $66.18 and its 200 day simple moving average is $66.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KO shares. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. UBS Group raised their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Company Profile

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.