Principal Financial Group Inc. lifted its stake in shares of The Coca-Cola Co (NYSE:KO) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,937,962 shares of the company’s stock after buying an additional 160,880 shares during the quarter. Principal Financial Group Inc.’s holdings in The Coca-Cola were worth $494,716,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in KO. State Street Corp boosted its holdings in shares of The Coca-Cola by 1.3% in the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock worth $9,959,624,000 after buying an additional 2,412,293 shares during the period. California Public Employees Retirement System boosted its stake 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 valued at $1,362,284,000 after purchasing an additional 175,141 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of The Coca-Cola by 3.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,806,390 shares of the company’s stock valued at $930,234,000 after purchasing an additional 593,535 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of The Coca-Cola by 3.7% in the third quarter. Parametric Portfolio Associates LLC now owns 12,325,827 shares of the company’s stock valued at $671,018,000 after buying an additional 445,296 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in The Coca-Cola by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 7,021,272 shares of the company’s stock worth $382,238,000 after acquiring an additional 182,776 shares during the last quarter. 67.58% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on KO shares. Guggenheim set a $59.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, October 18th. Credit Suisse Group upgraded shares of 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 report on Thursday, January 9th. Evercore ISI reissued a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research note on Sunday, November 17th. Wells Fargo & Co set a $60.00 price target on The Coca-Cola and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Citigroup lifted their price objective on The Coca-Cola from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $59.58.
Shares of KO stock traded up $0.45 during mid-day trading on Monday, reaching $59.64. 355,070 shares of the company’s stock traded hands, compared to its average volume of 12,856,701. 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 company’s 50-day moving average price is $56.39 and its 200-day moving average price is $54.45. The company has a market cap of $253.60 billion, a P/E ratio of 28.81, a P/E/G ratio of 3.63 and a beta of 0.41. The Coca-Cola Co has a 12 month low of $44.42 and a 12 month high of $59.45.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $8.88 billion. The Coca-Cola had a net margin of 24.38% and a return on equity of 44.39%. The Coca-Cola’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Equities analysts predict that The Coca-Cola Co will post 2.26 earnings per share for the current year.
In other news, SVP Nancy Quan sold 20,000 shares of The Coca-Cola stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.27, for a total value of $1,165,400.00. Following the completion of the transaction, the senior vice president now owns 185,049 shares of the company’s stock, valued at approximately $10,782,805.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brian John Smith sold 25,000 shares of The Coca-Cola stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $56.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief operating officer now directly owns 139,302 shares of the company’s stock, valued at approximately $7,800,912. The disclosure for this sale can be found here. Insiders have sold 178,097 shares of company stock valued at $9,887,839 over the last quarter. Company insiders own 1.33% of the company’s stock.
The 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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