The Coca-Cola Company (NYSE:KO) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in The Coca-Cola Company (NYSE:KOFree Report) by 36.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,420 shares of the company’s stock after selling 61,032 shares during the quarter. Westpac Banking Corp’s holdings in Coca-Cola were worth $6,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its position in shares of Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after acquiring an additional 4,933,527 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after buying an additional 2,464,618 shares in the last quarter. Northern Trust Corp raised its stake in shares of Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after buying an additional 2,040,664 shares during the period. Invesco Ltd. grew its stake in Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after acquiring an additional 1,963,963 shares during the period. Finally, Morgan Stanley increased its holdings in Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.2 %

NYSE KO traded up $0.15 on Wednesday, reaching $63.25. 4,324,417 shares of the company were exchanged, compared to its average volume of 13,594,004. 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 business’s fifty day moving average price is $60.65 and its 200 day moving average price is $59.58. The stock has a market capitalization of $272.48 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 3.61 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $63.90.

Coca-Cola (NYSE:KOGet Free Report) last announced 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 for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the topic of several research analyst reports. Barclays lifted their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Check Out Our Latest Report on Coca-Cola

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 389,279 shares of company stock worth $23,771,458. Insiders own 0.97% of the company’s stock.

About Coca-Cola

(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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