Glenview Trust co Boosts Position in The Coca-Cola Company (NYSE:KO)

Glenview Trust co grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 457,023 shares of the company’s stock after buying an additional 1,704 shares during the period. Glenview Trust co’s holdings in Coca-Cola were worth $28,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. FMR LLC grew its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Coca-Cola during the 4th quarter valued at about $500,192,000. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola in the third quarter worth about $269,382,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.7 %

Shares of KO stock opened at $69.16 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market cap of $297.47 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.79 and a beta of 0.57. The stock has a 50 day moving average of $66.18 and a 200 day moving average of $66.58. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 in the last 90 days. 0.97% of the stock is 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.