Ellis Investment Partners LLC lifted its holdings in The Coca-Cola Co (NYSE:KO) by 4,385.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,755 shares of the company’s stock after purchasing an additional 243,209 shares during the period. Ellis Investment Partners LLC’s holdings in The Coca-Cola were worth $248,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. FMR LLC raised its holdings in The Coca-Cola by 22.2% in the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after acquiring an additional 11,126,961 shares during the period. Northern Trust Corp raised its holdings in The Coca-Cola by 3.6% in the 4th quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock worth $2,394,872,000 after acquiring an additional 1,771,500 shares during the period. Geode Capital Management LLC raised its holdings in The Coca-Cola by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. Finally, Norges Bank bought a new position in The Coca-Cola in the 4th quarter worth $1,717,527,000. 66.83% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on KO shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 price objective on shares of The Coca-Cola in a report on Tuesday, April 23rd. Morgan Stanley upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $55.00 in a report on Tuesday, May 14th. Credit Suisse Group started coverage on shares of The Coca-Cola in a report on Wednesday, March 6th. They set a “neutral” rating and a $48.00 price objective on the stock. ValuEngine downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, UBS Group boosted their price objective on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.05.
In other The Coca-Cola news, insider Jennifer K. Mann sold 9,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $51.88, for a total value of $466,920.00. Following the transaction, the insider now directly owns 41,049 shares in the company, valued at $2,129,622.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Bernhard Goepelt sold 13,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $48.96, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president now owns 151,504 shares in the company, valued at $7,417,635.84. The disclosure for this sale can be found here. In the last three months, insiders sold 316,600 shares of company stock worth $15,760,365. 1.33% of the stock is currently owned by insiders.
NYSE KO opened at $51.64 on Thursday. The stock has a market capitalization of $219.66 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 3.46 and a beta of 0.50. The Coca-Cola Co has a twelve month low of $42.96 and a twelve month high of $52.19. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, research analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. The Coca-Cola’s payout ratio is currently 76.92%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
See Also: P/E Growth (PEG)
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 Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.