FIL Ltd Cuts Position in The Coca-Cola Co (KO)

FIL Ltd reduced its position in The Coca-Cola Co (NYSE:KO) by 3.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 639,483 shares of the company’s stock after selling 20,994 shares during the period. FIL Ltd’s holdings in The Coca-Cola were worth $27,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in The Coca-Cola by 1.9% in the first quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after purchasing an additional 4,526,566 shares during the period. Geode Capital Management LLC raised its position in The Coca-Cola by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 38,150,109 shares of the company’s stock valued at $1,746,387,000 after purchasing an additional 1,170,700 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of The Coca-Cola by 6.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 19,998,936 shares of the company’s stock valued at $917,552,000 after acquiring an additional 1,227,366 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of The Coca-Cola by 0.5% during the fourth quarter. Suntrust Banks Inc. now owns 19,870,669 shares of the company’s stock valued at $911,665,000 after acquiring an additional 99,827 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of The Coca-Cola by 11.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 17,857,938 shares of the company’s stock valued at $819,322,000 after acquiring an additional 1,869,038 shares in the last quarter. 65.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Coca-Cola opened at $43.55 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.21 and a quick ratio of 1.12. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $48.62. The company has a market capitalization of $188.21 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 2.61 and a beta of 0.73.

The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The company had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The Coca-Cola’s quarterly revenue was down 16.6% compared to the same quarter last year. analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.58%. The Coca-Cola’s payout ratio is currently 81.68%.

Several brokerages have recently weighed in on KO. Macquarie restated a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a research note on Wednesday, June 13th. Barclays upgraded The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Thursday, May 17th. Zacks Investment Research downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Societe Generale set a $46.50 target price on The Coca-Cola and gave the company a “neutral” rating in a research note on Wednesday, April 25th. Finally, Morningstar set a $48.50 target price on The Coca-Cola and gave the company a “buy” rating in a research note on Wednesday, February 28th. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.42.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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