Profund Advisors LLC Grows Stake in The Coca-Cola Co (NYSE:KO)

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Profund Advisors LLC grew its holdings in The Coca-Cola Co (NYSE:KO) by 4.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 79,962 shares of the company’s stock after buying an additional 3,368 shares during the quarter. Profund Advisors LLC’s holdings in The Coca-Cola were worth $4,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealth Quarterback LLC bought a new position in shares of The Coca-Cola in the 4th quarter worth approximately $19,121,610,000. State Street Corp raised its position in shares of The Coca-Cola by 1.3% in the 3rd quarter. State Street Corp now owns 181,621,433 shares of the company’s stock worth $9,959,624,000 after acquiring an additional 2,412,293 shares in the last quarter. Capital World Investors raised its position in shares of The Coca-Cola by 1.0% in the 4th quarter. Capital World Investors now owns 32,448,633 shares of the company’s stock worth $1,796,032,000 after acquiring an additional 309,632 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of The Coca-Cola by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,422,837 shares of the company’s stock worth $1,462,505,000 after acquiring an additional 1,272,545 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of The Coca-Cola by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 24,612,179 shares of the company’s stock worth $1,362,284,000 after acquiring an additional 175,141 shares in the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.

Several research analysts have recently issued reports on KO shares. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, January 23rd. Royal Bank of Canada reissued a “buy” rating and issued a $58.00 target price on shares of The Coca-Cola in a research report on Monday. Credit Suisse Group raised The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $54.00 to $64.00 in a research report on Thursday, January 9th. Bank of America increased their target price on The Coca-Cola from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, UBS Group increased their target price on The Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.50.

In other news, CEO James Quincey sold 66,673 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $59.08, for a total value of $3,939,040.84. Following the transaction, the chief executive officer now directly owns 467,407 shares in the company, valued at approximately $27,614,405.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nancy Quan sold 12,546 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $60.00, for a total value of $752,760.00. Following the completion of the transaction, the senior vice president now owns 177,595 shares in the company, valued at $10,655,700. The disclosure for this sale can be found here. In the last three months, insiders sold 167,027 shares of company stock valued at $9,620,065. Corporate insiders own 1.01% of the company’s stock.

Shares of The Coca-Cola stock traded up $2.68 on Thursday, reaching $44.29. The company’s stock had a trading volume of 37,818,073 shares, compared to its average volume of 19,547,148. The company has a market capitalization of $169.25 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.99 and a beta of 0.46. The firm’s fifty day simple moving average is $53.92 and its two-hundred day simple moving average is $54.38. The Coca-Cola Co has a 52 week low of $36.27 and a 52 week high of $60.13. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 1.30.

The Coca-Cola (NYSE:KO) last posted its earnings results on Thursday, January 30th. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $8.88 billion. The Coca-Cola had a return on equity of 44.39% and a net margin of 24.38%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. As a group, research analysts predict that The Coca-Cola Co will post 2.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a $0.41 dividend. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.70%. The Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.

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 plant-based 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.

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

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