Douglass Winthrop Advisors LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Douglass Winthrop Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 85,811 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Coca-Cola were worth $5,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Morgan Stanley lifted its stake in shares of Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after buying an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 worth $3,501,789,000 after purchasing an additional 2,464,618 shares during the last quarter. Norges Bank acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $2,808,056,000. Northern Trust Corp boosted its position in Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after buying an additional 2,040,664 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after buying an additional 1,963,963 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.09 during midday trading on Monday, reaching $62.00. 8,203,100 shares of the company’s stock traded hands, compared to its average volume of 13,383,840. The company has a fifty day simple moving average of $61.11 and a two-hundred day simple moving average of $59.95. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $63.76. The company has a market cap of $267.09 billion, a P/E ratio of 24.80, a PEG ratio of 3.50 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold 199,389 shares of company stock valued at $12,322,179 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KO. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. UBS Group boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Barclays lifted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.58.

Get Our Latest Research Report on KO

Coca-Cola Profile

(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

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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