Yacktman Asset Management LP lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,518,232 shares of the company’s stock after acquiring an additional 114,987 shares during the quarter. The Coca-Cola makes up approximately 3.6% of Yacktman Asset Management LP’s portfolio, making the stock its 11th biggest position. Yacktman Asset Management LP’s holdings in The Coca-Cola were worth $343,576,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Calamos Wealth Management LLC boosted its position in The Coca-Cola by 1.5% during the 1st quarter. Calamos Wealth Management LLC now owns 162,993 shares of the company’s stock worth $8,591,000 after buying an additional 2,339 shares during the period. Wilkinson Global Asset Management LLC acquired a new stake in The Coca-Cola in the first quarter valued at $1,091,000. Flagship Harbor Advisors LLC raised its position in The Coca-Cola by 9.1% during the 4th quarter. Flagship Harbor Advisors LLC now owns 29,864 shares of the company’s stock worth $1,638,000 after purchasing an additional 2,492 shares during the last quarter. Liberty One Investment Management LLC lifted its holdings in The Coca-Cola by 4.8% during the 1st quarter. Liberty One Investment Management LLC now owns 318,360 shares of the company’s stock worth $16,781,000 after buying an additional 14,617 shares during the period. Finally, AE Wealth Management LLC increased its stake in shares of The Coca-Cola by 0.8% in the fourth quarter. AE Wealth Management LLC now owns 357,040 shares of the company’s stock valued at $19,580,000 after buying an additional 2,918 shares during the period. Institutional investors and hedge funds own 65.99% of the company’s stock.
KO has been the topic of a number of recent analyst reports. Credit Suisse Group restated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, April 21st. Sanford C. Bernstein initiated coverage on The Coca-Cola in a report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price target for the company. Morgan Stanley raised their target price on The Coca-Cola from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. Evercore ISI raised their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Finally, Citigroup boosted their target price on shares of The Coca-Cola from $54.00 to $57.00 in a research report on Tuesday, April 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The Coca-Cola presently has a consensus rating of “Buy” and an average price target of $57.69.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Sunday, April 18th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The business had revenue of $9 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The Coca-Cola’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 14th. The Coca-Cola’s dividend payout ratio (DPR) is currently 79.62%.
In other news, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $50.46, for a total value of $25,280.46. Following the completion of the sale, the vice president now directly owns 10,224 shares in the company, valued at approximately $515,903.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 110,000 shares of the stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the transaction, the chief executive officer now directly owns 266,718 shares in the company, valued at approximately $14,530,796.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,501 shares of company stock worth $11,883,380. Insiders own 1.01% of the company’s stock.
The 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; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-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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