Creative Planning Has $27.63 Million Stake in The Coca-Cola Co (NYSE:KO)
Creative Planning grew its position in The Coca-Cola Co (NYSE:KO) by 16.3% in the first quarter, HoldingsChannel.com reports. The fund owned 589,668 shares of the company’s stock after buying an additional 82,842 shares during the period. Creative Planning’s holdings in The Coca-Cola were worth $27,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in KO. Norges Bank bought a new stake in The Coca-Cola during the 4th quarter worth approximately $1,717,527,000. Oregon Public Employees Retirement Fund lifted its position in shares of The Coca-Cola by 4,577.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock valued at $415,000 after acquiring an additional 19,215,135 shares during the period. FMR LLC lifted its position in shares of The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares during the period. BlackRock Inc. raised its holdings in The Coca-Cola by 2.9% during the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after buying an additional 7,272,015 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares during the last quarter. 66.83% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE KO opened at $51.64 on Thursday. The Coca-Cola Co has a fifty-two week low of $42.96 and a fifty-two week high of $52.19. The stock has a market capitalization of $219.66 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 3.46 and a beta of 0.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.02 and a quick ratio of 0.91.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In other The Coca-Cola news, SVP Robert Edward Long sold 30,412 shares of The Coca-Cola stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total value of $1,519,687.64. Following the sale, the senior vice president now owns 57,538 shares in the company, valued at $2,875,173.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Beatriz R. Perez sold 14,094 shares of The Coca-Cola stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $49.50, for a total value of $697,653.00. Following the completion of the sale, the senior vice president now owns 108,551 shares in the company, valued at approximately $5,373,274.50. The disclosure for this sale can be found here. Insiders sold 316,600 shares of company stock worth $15,760,365 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.
KO has been the subject of several research reports. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, April 26th. Morgan Stanley upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $55.00 in a research report on Tuesday, May 14th. UBS Group raised their price objective on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co lifted their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The Coca-Cola presently has an average rating of “Hold” and a consensus target price of $51.05.
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The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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