Westpac Banking Corp Has $6.33 Million Holdings in The Coca-Cola Company (NYSE:KO)

Westpac Banking Corp decreased its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 36.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,420 shares of the company’s stock after selling 61,032 shares during the quarter. Westpac Banking Corp’s holdings in Coca-Cola were worth $6,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of KO. Quotient Wealth Partners LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $530,000. First United Bank & Trust lifted its position in Coca-Cola by 5.2% in the 4th quarter. First United Bank & Trust now owns 9,467 shares of the company’s stock valued at $558,000 after acquiring an additional 469 shares in the last quarter. Advisor OS LLC raised its stake in shares of Coca-Cola by 19.7% in the fourth quarter. Advisor OS LLC now owns 20,571 shares of the company’s stock worth $1,212,000 after purchasing an additional 3,392 shares during the last quarter. Pacific Global Investment Management Co. boosted its position in shares of Coca-Cola by 2.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 101,523 shares of the company’s stock valued at $5,983,000 after buying an additional 2,051 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new position in Coca-Cola during the 4th quarter valued at $250,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO traded up $0.15 during midday trading on Wednesday, hitting $63.25. The stock had a trading volume of 4,324,417 shares, compared to its average volume of 13,594,004. The business’s 50 day moving average is $60.65 and its 200-day moving average is $59.58. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $63.90. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a market cap of $272.48 billion, a P/E ratio of 25.26, a PEG ratio of 3.61 and a beta of 0.57.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm posted $0.68 earnings per share. Coca-Cola’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 389,279 shares of company stock worth $23,771,458. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KO shares. Evercore ISI lifted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.27.

Get Our Latest Research Report on KO

About Coca-Cola

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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