The Coca-Cola Company (NYSE:KO) Shares Sold by OLD Republic International Corp

OLD Republic International Corp reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,042,300 shares of the company’s stock after selling 11,000 shares during the quarter. Coca-Cola makes up approximately 2.3% of OLD Republic International Corp’s portfolio, making the stock its 14th largest position. OLD Republic International Corp’s holdings in Coca-Cola were worth $61,423,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. E Fund Management Co. Ltd. increased its position in shares of Coca-Cola by 19.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 7,236 shares of the company’s stock worth $426,000 after purchasing an additional 1,162 shares during the last quarter. National Pension Service lifted its holdings in Coca-Cola by 2.0% in the fourth quarter. National Pension Service now owns 6,301,967 shares of the company’s stock valued at $371,375,000 after buying an additional 122,533 shares during the period. Verus Financial Partners Inc. boosted its position in shares of Coca-Cola by 26.1% during the 4th quarter. Verus Financial Partners Inc. now owns 5,437 shares of the company’s stock worth $323,000 after purchasing an additional 1,126 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Coca-Cola by 1.2% in the fourth quarter. Bogart Wealth LLC now owns 112,398 shares of the company’s stock worth $6,624,000 after purchasing an additional 1,304 shares during the last quarter. Finally, RMR Wealth Builders grew its stake in Coca-Cola by 9.0% in the 4th quarter. RMR Wealth Builders now owns 30,751 shares of the company’s stock valued at $1,812,000 after purchasing an additional 2,543 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Shares of NYSE KO traded up $0.41 during midday trading on Friday, hitting $63.29. 3,080,713 shares of the company’s stock were exchanged, compared to its average volume of 13,708,053. The company has a market cap of $272.65 billion, a PE ratio of 25.29, a P/E/G ratio of 3.53 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The firm’s fifty day simple moving average is $60.43 and its 200-day simple moving average is $59.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

Coca-Cola (NYSE:KO) last released its 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. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KO shares. Evercore ISI raised their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Barclays increased their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 380,405 shares of company stock valued at $23,209,645 in the last three months. Corporate insiders own 0.97% of the company’s stock.

About Coca-Cola

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.