Welch Group LLC Raises Stake in The Coca-Cola Co (KO)
Welch Group LLC grew its position in The Coca-Cola Co (NYSE:KO) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 91,954 shares of the company’s stock after buying an additional 415 shares during the quarter. Welch Group LLC’s holdings in The Coca-Cola were worth $4,309,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of KO. Orrstown Financial Services Inc. grew its position in shares of The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its stake in The Coca-Cola by 567.7% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock valued at $41,000 after acquiring an additional 721 shares during the period. Financial Gravity Companies Inc. acquired a new stake in The Coca-Cola during the 4th quarter valued at approximately $45,000. PRW Wealth Management LLC acquired a new stake in The Coca-Cola during the 4th quarter valued at approximately $50,000. Finally, Country Trust Bank lifted its stake in shares of The Coca-Cola by 2,506.7% in the 4th quarter. Country Trust Bank now owns 1,173 shares of the company’s stock valued at $56,000 after purchasing an additional 1,128 shares during the period. Institutional investors own 67.72% of the company’s stock.
Shares of The Coca-Cola stock traded down $0.24 during trading hours on Friday, reaching $49.61. 6,887,611 shares of the company’s stock were exchanged, compared to its average volume of 11,838,508. The Coca-Cola Co has a 1 year low of $41.93 and a 1 year high of $50.84. The firm has a market capitalization of $211.63 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 3.27 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.48.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s payout ratio is 76.92%.
In related news, SVP Beatriz R. Perez sold 14,094 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $49.50, for a total value of $697,653.00. Following the completion of the sale, the senior vice president now owns 108,551 shares of the company’s stock, valued at $5,373,274.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy Quan sold 23,320 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were 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 of the company’s stock, valued at approximately $7,914,099.55. The disclosure for this sale can be found here. Insiders have sold 66,840 shares of company stock valued at $3,257,201 in the last ninety days. Insiders own 1.33% of the company’s stock.
KO has been the subject of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a research note on Wednesday, February 13th. Deutsche Bank reiterated a “buy” rating and issued a $53.00 target price on shares of The Coca-Cola in a research note on Thursday, April 18th. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, April 26th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays set a $54.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, May 16th. Fourteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.20.
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The Coca-Cola Profile
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.
Further Reading: Differences Between Momentum Investing and Long Term Investing
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