First Trust Advisors LP Has $265 Million Stake in The Coca-Cola Company (NYSE:KO)

First Trust Advisors LP increased its holdings in The Coca-Cola Company (NYSE:KOFree Report) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,496,882 shares of the company’s stock after buying an additional 10,908 shares during the period. First Trust Advisors LP’s holdings in Coca-Cola were worth $265,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WealthPlan Investment Management LLC increased its stake in Coca-Cola by 8.5% in the third quarter. WealthPlan Investment Management LLC now owns 6,754 shares of the company’s stock valued at $378,000 after acquiring an additional 531 shares during the last quarter. Penobscot Investment Management Company Inc. increased its stake in Coca-Cola by 23.3% in the third quarter. Penobscot Investment Management Company Inc. now owns 28,028 shares of the company’s stock valued at $1,571,000 after acquiring an additional 5,304 shares during the last quarter. Spire Wealth Management increased its stake in Coca-Cola by 98.8% in the third quarter. Spire Wealth Management now owns 126,121 shares of the company’s stock valued at $7,060,000 after acquiring an additional 62,679 shares during the last quarter. Northeast Investment Management increased its stake in Coca-Cola by 0.7% in the third quarter. Northeast Investment Management now owns 40,163 shares of the company’s stock valued at $2,248,000 after acquiring an additional 284 shares during the last quarter. Finally, Argent Trust Co boosted its position in Coca-Cola by 1.1% in the third quarter. Argent Trust Co now owns 375,592 shares of the company’s stock valued at $21,026,000 after buying an additional 3,937 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,838 shares of company stock valued at $11,220,064. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Argus lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.58.

Check Out Our Latest Research Report on Coca-Cola

Coca-Cola Trading Down 0.7 %

KO stock traded down $0.42 during midday trading on Wednesday, hitting $63.52. The stock had a trading volume of 902,546 shares, compared to its average volume of 13,215,552. The firm has a market cap of $273.64 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 3.55 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.07. The business has a fifty day moving average price of $61.36 and a two-hundred day moving average price of $60.18.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Coca-Cola Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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