Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 168,800 Shares of Coca-Cola Co (The) (NYSE:KO)
Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Coca-Cola Co (The) (NYSE:KO) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,131,816 shares of the company’s stock after selling 168,800 shares during the quarter. Coca-Cola comprises 0.8% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s portfolio, making the stock its 21st biggest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Coca-Cola were worth $50,083,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Coca-Cola by 1.5% during the first quarter. Mutual of America Capital Management LLC now owns 525,781 shares of the company’s stock worth $23,266,000 after buying an additional 7,545 shares during the last quarter. Flossbach Von Storch AG increased its position in Coca-Cola by 753.3% during the first quarter. Flossbach Von Storch AG now owns 5,443,869 shares of the company’s stock worth $240,891,000 after acquiring an additional 4,805,893 shares during the period. Cigna Investments Inc. New raised its stake in Coca-Cola by 6.6% during the 1st quarter. Cigna Investments Inc. New now owns 111,062 shares of the company’s stock valued at $4,913,000 after purchasing an additional 6,867 shares during the last quarter. RMB Capital Management LLC grew its position in Coca-Cola by 5.9% in the 1st quarter. RMB Capital Management LLC now owns 22,182 shares of the company’s stock worth $982,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Coca-Cola by 21.0% during the 1st quarter. Blair William & Co. IL now owns 460,699 shares of the company’s stock worth $20,386,000 after purchasing an additional 79,868 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.
NYSE KO traded down $0.14 during trading hours on Friday, reaching $45.03. 13,007,667 shares of the company’s stock were exchanged, compared to its average volume of 17,496,358. The firm has a fifty day moving average of $45.85 and a 200-day moving average of $51.99. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The stock has a market cap of $194.00 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 1.57.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, June 12th. Coca-Cola’s payout ratio is presently 77.73%.
In other Coca-Cola news, CEO James Quincey sold 66,673 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lisa Chang bought 1,650 shares of the stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $46.74 per share, with a total value of $77,121.00. Following the completion of the purchase, the senior vice president now directly owns 5,826 shares in the company, valued at approximately $272,307.24. The disclosure for this purchase can be found here. Company insiders own 1.01% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Cfra decreased their target price on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 21st. Morgan Stanley lifted their price objective on Coca-Cola from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. Bank of America boosted their price objective on Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group reduced their target price on Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Finally, SunTrust Banks reissued an “outperform” rating and issued a $65.00 price target on shares of Coca-Cola in a report on Friday, January 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $54.55.
Coca-Cola Company 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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