Biltmore Family Office LLC lifted its position in The Coca-Cola Co (NYSE:KO) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,749 shares of the company’s stock after purchasing an additional 535 shares during the quarter. Biltmore Family Office LLC’s holdings in The Coca-Cola were worth $2,068,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of The Coca-Cola by 1.4% in the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after acquiring an additional 3,918,108 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of The Coca-Cola by 2.9% in the fourth 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 boosted its holdings in shares of The Coca-Cola by 22.2% in the fourth 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 position in shares of The Coca-Cola by 3.6% in the fourth quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock worth $2,394,872,000 after buying an additional 1,771,500 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
KO traded down $0.05 during mid-day trading on Tuesday, reaching $51.33. 9,393,981 shares of the company traded hands, compared to its average volume of 14,685,640. The firm has a market cap of $219.66 billion, a PE ratio of 24.68, a P/E/G ratio of 3.46 and a beta of 0.50. 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 Co has a 52-week low of $42.96 and a 52-week high of $52.19.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In related news, insider Francisco Crespo sold 16,426 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the sale, the insider now directly owns 77,109 shares of the company’s stock, valued at approximately $3,778,341. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy Quan sold 23,320 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.95, for a total transaction of $1,118,194.00. Following the completion of the sale, the senior vice president now directly owns 165,049 shares in the company, valued at $7,914,099.55. The disclosure for this sale can be found here. Insiders sold a total of 316,600 shares of company stock valued at $15,760,365 in the last ninety days. 1.33% of the stock is currently owned by insiders.
KO has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $56.00 price objective on shares of The Coca-Cola in a research report on Wednesday, February 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $51.00 price target on shares of The Coca-Cola in a research report on Thursday, February 14th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $47.00 price objective on shares of The Coca-Cola in a research note on Thursday, February 14th. Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $50.00 in a research note on Thursday, February 14th. Finally, UBS Group reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research note on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.05.
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 plantbased 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.
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