United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys 137,459 Shares of The Coca-Cola Company (NYSE:KO)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in The Coca-Cola Company (NYSE:KO) by 23.6% during the fourth quarter, Holdings Channel reports. The firm owned 719,401 shares of the company’s stock after purchasing an additional 137,459 shares during the period. Coca-Cola makes up approximately 2.2% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 17th largest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Coca-Cola were worth $42,394,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hibernia Wealth Partners LLC purchased a new position in Coca-Cola during the 3rd quarter worth $25,000. Freedom Wealth Alliance LLC purchased a new stake in Coca-Cola in the 4th quarter valued at about $25,000. ZRC Wealth Management LLC lifted its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in Coca-Cola during the fourth quarter worth $30,000. Finally, KB Financial Partners LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of research reports. Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays boosted their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.18.

Coca-Cola Price Performance

NYSE:KO traded up $0.42 during mid-day trading on Wednesday, hitting $58.48. 9,654,431 shares of the stock traded hands, compared to its average volume of 13,749,526. The business’s 50-day moving average price is $59.97 and its 200 day moving average price is $58.52. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The company has a market cap of $252.12 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.32%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is currently owned by insiders.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.