Bessemer Group Inc. lifted its position in The Coca-Cola Company (NYSE:KO – Free Report) by 0.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,833,024 shares of the company’s stock after buying an additional 4,332 shares during the period. Bessemer Group Inc.’s holdings in Coca-Cola were worth $110,386,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Morgan Stanley lifted its holdings in shares of Coca-Cola by 15.7% in the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after purchasing an additional 10,722,435 shares in the last quarter. Geode Capital Management LLC raised its position in Coca-Cola by 1.4% during the first quarter. Geode Capital Management LLC now owns 76,982,020 shares of the company’s stock valued at $4,764,721,000 after buying an additional 1,087,974 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Coca-Cola by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,636,577 shares of the company’s stock worth $3,728,653,000 after acquiring an additional 2,546,489 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after acquiring an additional 57,678,466 shares during the period. Finally, Norges Bank purchased a new position in Coca-Cola during the 4th quarter valued at about $2,937,315,000. Institutional investors and hedge funds own 68.96% of the company’s stock.
Insider Activity at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 92,029 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $25,707,497.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $58.09, for a total value of $5,345,964.61. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $25,707,497.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Henrique Braun sold 52,696 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $56.97, for a total value of $3,002,091.12. Following the transaction, the senior vice president now owns 26,272 shares of the company’s stock, valued at $1,496,715.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,316 shares of company stock worth $19,716,506. 1.00% of the stock is owned by insiders.
Coca-Cola Price Performance
Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Tuesday, October 24th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.45 billion. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. On average, equities research analysts predict that The Coca-Cola Company will post 2.68 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s dividend payout ratio is currently 73.90%.
Analyst Ratings Changes
KO has been the subject of a number of research analyst reports. Wedbush increased their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada increased their target price on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Barclays lowered their price target on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Morgan Stanley cut their price objective on Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Finally, Bank of America lowered their target price on Coca-Cola from $74.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $66.20.
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.
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