First Mercantile Trust Co. decreased its position in shares of Coca-Cola Co (The) (NYSE:KO) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,193 shares of the company’s stock after selling 3,827 shares during the quarter. First Mercantile Trust Co.’s holdings in Coca-Cola were worth $2,310,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. OLD Dominion Capital Management Inc. raised its holdings in Coca-Cola by 0.8% during the 1st quarter. OLD Dominion Capital Management Inc. now owns 61,019 shares of the company’s stock worth $2,700,000 after purchasing an additional 500 shares during the last quarter. GAM Holding AG raised its holdings in Coca-Cola by 5.6% during the 1st quarter. GAM Holding AG now owns 56,220 shares of the company’s stock worth $2,488,000 after purchasing an additional 2,964 shares during the last quarter. Blue Edge Capital LLC raised its holdings in Coca-Cola by 53.8% during the 1st quarter. Blue Edge Capital LLC now owns 14,833 shares of the company’s stock worth $656,000 after purchasing an additional 5,190 shares during the last quarter. Fort Sheridan Advisors LLC raised its holdings in Coca-Cola by 44.6% during the 1st quarter. Fort Sheridan Advisors LLC now owns 5,740 shares of the company’s stock worth $254,000 after purchasing an additional 1,770 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its holdings in Coca-Cola by 3.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 101,069 shares of the company’s stock worth $4,473,000 after purchasing an additional 3,705 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.
NYSE KO traded up $0.50 during mid-day trading on Thursday, hitting $47.23. The company’s stock had a trading volume of 1,098,628 shares, compared to its average volume of 16,677,944. The company’s 50 day simple moving average is $46.03 and its 200 day simple moving average is $51.79. Coca-Cola Co has a twelve month low of $36.27 and a twelve month high of $60.13. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $197.95 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 5.24 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, June 12th. Coca-Cola’s dividend payout ratio is 77.73%.
Several research analysts have issued reports on the stock. Goldman Sachs Group initiated coverage on shares of Coca-Cola in a report on Wednesday, April 1st. They set a “neutral” rating and a $46.00 price target for the company. Barclays reiterated a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research note on Thursday, April 23rd. JPMorgan Chase & Co. upgraded shares of Coca-Cola from a “neutral” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Monday, March 23rd. Royal Bank of Canada lowered their price objective on shares of Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, SunTrust Banks reiterated an “outperform” rating and issued a $65.00 price objective on shares of Coca-Cola in a research note on Friday, January 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.59.
In other news, SVP Lisa Chang acquired 1,650 shares of the business’s stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $46.74 per share, with a total value of $77,121.00. Following the acquisition, the senior vice president now directly owns 5,826 shares of the company’s stock, valued at $272,307.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.01% of the stock is owned by insiders.
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 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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