Crossvault Capital Management LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,875 shares of the company’s stock after purchasing an additional 3,458 shares during the period. The Coca-Cola accounts for about 1.2% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Crossvault Capital Management LLC’s holdings in The Coca-Cola were worth $3,367,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new stake in shares of The Coca-Cola in the fourth quarter worth $25,000. McClarren Financial Advisors Inc. bought a new stake in The Coca-Cola during the fourth quarter valued at $26,000. Merrion Investment Management Co LLC acquired a new position in shares of The Coca-Cola during the fourth quarter valued at $33,000. Alpha DNA Investment Management LLC bought a new stake in The Coca-Cola in the fourth quarter worth about $35,000. Finally, Syverson Strege & Co acquired a new stake in The Coca-Cola during the 4th quarter worth about $38,000. 65.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of KO traded down $0.15 during mid-day trading on Tuesday, hitting $54.33. The company’s stock had a trading volume of 127,518 shares, compared to its average volume of 17,970,572. The Coca-Cola Company has a one year low of $43.20 and a one year high of $54.93. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The firm has a market capitalization of $234.25 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 5.70 and a beta of 0.58. The stock’s 50-day moving average is $52.90 and its two-hundred day moving average is $51.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.09%. The Coca-Cola’s dividend payout ratio is 79.62%.
A number of equities analysts have recently weighed in on the company. Guggenheim downgraded The Coca-Cola from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Morgan Stanley boosted their price target on The Coca-Cola from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Royal Bank of Canada raised The Coca-Cola from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a research note on Monday, March 15th. Deutsche Bank Aktiengesellschaft cut The Coca-Cola from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $55.00 in a research note on Tuesday, January 5th. Finally, Citigroup boosted their price target on The Coca-Cola from $54.00 to $57.00 in a research note on Tuesday, April 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $57.69.
In related news, VP Kathy Loveless sold 501 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $50.46, for a total value of $25,280.46. Following the completion of the transaction, the vice president now directly owns 10,224 shares in the company, valued at $515,903.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 110,000 shares of the company’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $54.48, for a total value of $5,992,800.00. Following the completion of the transaction, the chief executive officer now owns 266,718 shares of the company’s stock, valued at $14,530,796.64. The disclosure for this sale can be found here. Insiders sold 220,501 shares of company stock valued at $11,883,380 over the last three months. 1.01% of the stock is owned by company insiders.
The 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; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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