Crescent Capital Consulting LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Crescent Capital Consulting LLC raised its position in The Coca-Cola Company (NYSE:KO) by 96.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 80,678 shares of the company’s stock after purchasing an additional 39,620 shares during the period. Crescent Capital Consulting LLC’s holdings in The Coca-Cola were worth $4,251,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of The Coca-Cola during the 4th quarter worth $2,345,618,000. FMR LLC raised its holdings in shares of The Coca-Cola by 16.3% during the 4th quarter. FMR LLC now owns 56,240,715 shares of the company’s stock worth $3,084,241,000 after acquiring an additional 7,887,519 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of The Coca-Cola by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after acquiring an additional 3,818,182 shares during the period. Morgan Stanley raised its holdings in shares of The Coca-Cola by 7.5% during the 4th quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after acquiring an additional 3,397,649 shares during the period. Finally, American International Group Inc. raised its holdings in shares of The Coca-Cola by 171.7% during the 4th quarter. American International Group Inc. now owns 4,592,077 shares of the company’s stock worth $279,222,000 after acquiring an additional 2,901,821 shares during the period. Institutional investors own 65.99% of the company’s stock.

In related news, insider Nikolaos Koumettis sold 60,000 shares of The Coca-Cola stock in a transaction on Monday, March 29th. The stock was sold at an average price of $53.30, for a total transaction of $3,198,000.00. Following the completion of the sale, the insider now owns 145,011 shares of the company’s stock, valued at $7,729,086.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kathy Loveless sold 501 shares of The Coca-Cola stock in a transaction 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 sale, the vice president now directly owns 10,224 shares of the company’s stock, valued at approximately $515,903.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,501 shares of company stock valued at $4,246,280. Insiders own 1.01% of the company’s stock.

Several research analysts have recently commented on KO shares. JPMorgan Chase & Co. lowered The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Thursday, January 7th. HSBC reduced their price target on The Coca-Cola from $61.00 to $58.00 in a report on Wednesday, January 13th. Guggenheim lowered shares of The Coca-Cola from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Sanford C. Bernstein started coverage on shares of The Coca-Cola in a report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $54.86.

NYSE KO opened at $53.68 on Friday. The Coca-Cola Company has a 1-year low of $43.20 and a 1-year high of $54.93. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.13 and a quick ratio of 1.01. The company has a market cap of $231.32 billion, a P/E ratio of 27.96, a P/E/G ratio of 5.70 and a beta of 0.58. The stock has a 50-day moving average of $51.63 and a two-hundred day moving average of $51.19.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The Coca-Cola’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were issued a dividend of $0.42 per share. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.13%. The Coca-Cola’s payout ratio is currently 79.62%.

The Coca-Cola Profile

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

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