Sun Life Financial INC lowered its stake in Coca-Cola Co. (NYSE:KO) by 21.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,416 shares of the company’s stock after selling 4,618 shares during the period. Sun Life Financial INC’s holdings in Coca-Cola were worth $58,969,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in KO. Boston Family Office LLC boosted its position in shares of Coca-Cola by 1.1% in the fourth quarter. Boston Family Office LLC now owns 89,560 shares of the company’s stock valued at $3,847,000 after buying an additional 1,003 shares in the last quarter. WMS Partners LLC boosted its position in shares of Coca-Cola by 3.0% in the fourth quarter. WMS Partners LLC now owns 29,798 shares of the company’s stock valued at $1,280,000 after buying an additional 858 shares in the last quarter. Whitnell & Co. boosted its position in shares of Coca-Cola by 12.7% in the fourth quarter. Whitnell & Co. now owns 43,363 shares of the company’s stock valued at $1,863,000 after buying an additional 4,870 shares in the last quarter. MetLife Securities Inc boosted its position in shares of Coca-Cola by 164.3% in the fourth quarter. MetLife Securities Inc now owns 170,613 shares of the company’s stock valued at $7,330,000 after buying an additional 106,057 shares in the last quarter. Finally, Bollard Group LLC boosted its position in shares of Coca-Cola by 1.6% in the fourth quarter. Bollard Group LLC now owns 52,262 shares of the company’s stock valued at $2,245,000 after buying an additional 812 shares in the last quarter.
Coca-Cola Co. (NYSE:KO) traded up 0.58% during trading on Thursday, reaching $43.65. 13,077,828 shares of the company traded hands. Coca-Cola Co. has a 12-month low of $36.56 and a 12-month high of $47.13. The firm’s 50 day moving average price is $45.11 and its 200 day moving average price is $44.58. The firm has a market capitalization of $188.84 billion and a price-to-earnings ratio of 26.28.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, September 13th.
Several brokerages have recently commented on KO. Vetr cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $45.44 target price on the stock. in a report on Monday, April 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $51.00 target price on shares of Coca-Cola in a report on Wednesday, April 13th. Bank of America Corp. reaffirmed a “buy” rating and set a $52.00 target price on shares of Coca-Cola in a report on Tuesday, April 12th. Susquehanna reissued a “neutral” rating and issued a $41.00 price objective on shares of Coca-Cola in a research note on Thursday, March 31st. Finally, Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $47.33.
In other news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the stock in a transaction on Monday, June 20th. The shares were sold at an average price of $45.25, for a total value of $25,916,847.00. Following the transaction, the executive vice president now owns 291,675 shares of the company’s stock, valued at approximately $13,198,293.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian John Smith sold 50,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $44.32, for a total transaction of $2,216,000.00. Following the completion of the transaction, the insider now directly owns 70,947 shares in the company, valued at approximately $3,144,371.04. The disclosure for this sale can be found here.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
