Alpha DNA Investment Management LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 74.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,135 shares of the company’s stock after buying an additional 484 shares during the period. Alpha DNA Investment Management LLC’s holdings in The Coca-Cola were worth $59,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its stake in The Coca-Cola by 16.3% during the 4th quarter. FMR LLC now owns 56,240,715 shares of the company’s stock valued at $3,084,241,000 after purchasing an additional 7,887,519 shares during the last quarter. Morgan Stanley boosted its stake in shares of The Coca-Cola by 7.5% in the 4th quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after buying an additional 3,397,649 shares during the last quarter. Norges Bank purchased a new position in The Coca-Cola during the fourth quarter valued at $2,345,618,000. Bank of New York Mellon Corp lifted its position in The Coca-Cola by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock valued at $2,184,577,000 after purchasing an additional 3,818,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in The Coca-Cola by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock valued at $2,077,505,000 after purchasing an additional 1,995,835 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.
Shares of KO stock opened at $55.91 on Friday. The Coca-Cola Company has a 12-month low of $43.51 and a 12-month high of $56.48. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average price of $54.37. The company has a market capitalization of $241.07 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, June 14th. This represents a $1.68 annualized dividend and a yield of 3.00%. The Coca-Cola’s payout ratio is currently 86.15%.
Several equities analysts recently weighed in on KO shares. Evercore ISI lifted their target price on The Coca-Cola from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, April 20th. Citigroup raised their price target on The Coca-Cola from $54.00 to $57.00 in a report on Tuesday, April 20th. Morgan Stanley raised their price target on The Coca-Cola from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, June 4th. Credit Suisse Group reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, April 21st. Finally, Royal Bank of Canada raised The Coca-Cola from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $60.00 in a report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.00.
In related news, CEO James Quincey sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $54.48, for a total value of $5,992,800.00. Following the completion of the sale, the chief executive officer now owns 266,718 shares in the company, valued at $14,530,796.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $50.46, for a total value of $25,280.46. Following the completion of the sale, the vice president now owns 10,224 shares of the company’s stock, valued at approximately $515,903.04. The disclosure for this sale can be found here. Insiders have sold 255,893 shares of company stock worth $13,956,239 over the last three months. 1.01% of the stock is currently owned by insiders.
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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