Northern Financial Advisors Inc bought a new stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating ) in the fourth quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,506 shares of the company’s stock, valued at approximately $1,241,000. The Coca-Cola comprises approximately 1.4% of Northern Financial Advisors Inc.’s investment portfolio, making the stock its 17th largest holding.
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A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in The Coca-Cola by 1.1% in the third quarter. Vanguard Group Inc. now owns 363,258,425 shares of the company’s stock valued at $20,349,737,000 after purchasing an additional 3,864,004 shares in the last quarter. BlackRock Inc. raised its holdings in shares of The Coca-Cola by 1.7% in the third quarter. BlackRock Inc. now owns 301,952,085 shares of the company’s stock valued at $16,915,357,000 after acquiring an additional 4,994,047 shares during the period. State Street Corp raised its holdings in shares of The Coca-Cola by 0.5% during the third quarter. State Street Corp now owns 171,570,198 shares of the company’s stock valued at $9,685,693,000 after acquiring an additional 885,816 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of The Coca-Cola by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 51,570,921 shares of the company’s stock valued at $3,197,397,000 after buying an additional 1,301,902 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of The Coca-Cola by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 41,213,079 shares of the company’s stock worth $2,308,758,000 after buying an additional 462,803 shares in the last quarter. At present, 68.74 percent shares are owned by institutional investors.
Coca-Cola traded up 0.1%
NYSE KO traded up $0.04 on Friday, reaching $62.84. The company traded 9,644,204 shares compared to its average volume of 14,424,691. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.41. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $67.20. The stock has a market cap of $271.87 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 3.63 and a beta of 0.54. The stock has a 50-day moving average of $60.44 and its 200-day moving average is $60.44.
The Coca-Cola (NYSE:KO – Get Rating ) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.92 billion. Coca-Cola had a net margin of 22.19% and a return on equity of 42.35%. Coca-Cola’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. equities analysts anticipate that The Coca-Cola Company will post 2.6 earnings per share for the current year.
Coca-Cola raises dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 17th were issued a $0.46 dividend. The ex-dividend date was Thursday, March 16th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.44. This represents a $1.84 annual dividend and a yield of 2.93%. Coca-Cola’s dividend payout ratio (DPR) is 83.64%.
In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of Coca-Cola stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07 for a total value of $7,881,152.04. Following the transaction, the insider now owns 116,168 shares of the company’s stock, valued at $7,210,547.76. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. In related news, CEO James Quincey sold 34,875 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $60.32, for a total transaction of $2,103,660.00. Following the completion of the transaction, the chief executive officer now directly owns 351,737 shares in the company, valued at $21,216,775.84. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, insider Brian John Smith sold 126,972 shares of Coca-Cola stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $62.07 for a total value of $7,881,152.04. Following the completion of the sale, the insider now directly owns 116,168 shares in the company, valued at approximately $7,210,547.76. Disclosures for this sale can be found here. Insiders have sold 282,268 shares of company stock valued at $17,137,823 over the last quarter. Company insiders own 1.00% of the company’s stock.
Analyzer upgrades and downgrades
KO has been the subject of several analyst reports. Royal Bank of Canada set a $69.00 price objective on shares of The Coca-Cola in a report on Tuesday, February 14th. JPMorgan Chase & Co. Le set a $67.00 price objective on The Coca-Cola in a research report on Tuesday, February 14th. Goldman Sachs Group upped their price target on shares of The Coca-Cola from $61.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Wells Fargo & Co dropped their price objective on shares of The Coca-Cola from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Finally, Credit Suisse Group set a $70.00 target price on shares of The Coca-Cola in a research report on Wednesday, February 15th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average target price of $67.55, based on data from MarketBeat.
Coca-Cola Co is involved in the production and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.
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