Schroder Investment Management Group reduced its holdings in The Coca-Cola Company (NYSE:KO) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,383,781 shares of the company’s stock after selling 882,056 shares during the period. Schroder Investment Management Group’s holdings in The Coca-Cola were worth $185,558,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in The Coca-Cola in the fourth quarter valued at approximately $25,000. McClarren Financial Advisors Inc. bought a new stake in The Coca-Cola in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its stake in The Coca-Cola by 136.3% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,229 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Merrion Investment Management Co LLC bought a new stake in The Coca-Cola in the fourth quarter valued at approximately $33,000. Finally, West Financial Advisors LLC bought a new stake in The Coca-Cola in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 65.99% of the company’s stock.
The Coca-Cola stock opened at $53.28 on Thursday. The company has a market cap of $229.60 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 5.70 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 1.94. The company has a fifty day simple moving average of $51.12 and a 200 day simple moving average of $51.00. The Coca-Cola Company has a 1-year low of $43.20 and a 1-year high of $54.93.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were paid a $0.42 dividend. The ex-dividend date was Friday, March 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.15%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s dividend payout ratio (DPR) is currently 79.62%.
Several brokerages have commented on KO. Royal Bank of Canada raised shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $60.00 in a research note on Monday, March 15th. Morgan Stanley lowered their price objective on shares of The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, January 14th. Deutsche Bank Aktiengesellschaft downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $55.00 in a research report on Tuesday, January 5th. JPMorgan Chase & Co. downgraded shares of The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Thursday, January 7th. Finally, Sanford C. Bernstein assumed coverage on shares of The Coca-Cola in a research report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The Coca-Cola currently has a consensus rating of “Buy” and an average target price of $54.86.
In other news, insider Alfredo Rivera sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the completion of the sale, the insider now owns 62,000 shares in the company, valued at approximately $3,171,300. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $53.30, for a total transaction of $3,198,000.00. Following the sale, the insider now owns 145,011 shares of the company’s stock, valued at approximately $7,729,086.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,501 shares of company stock valued at $4,246,280. Corporate insiders own 1.01% of the company’s stock.
About The Coca-Cola
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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