United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Cuts Position in The Coca-Cola Company (NYSE:KO)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 42.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 518,959 shares of the company’s stock after selling 383,957 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Coca-Cola were worth $32,310,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 11,569,920 shares in the last quarter. FMR LLC boosted its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Coca-Cola during the 4th quarter worth approximately $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, Geode Capital Management LLC lifted its stake in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last three months. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. UBS Group raised their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Barclays lifted their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Trading Down 0.1 %

Shares of NYSE KO opened at $68.85 on Wednesday. The stock has a fifty day simple moving average of $67.28 and a 200-day simple moving average of $66.40. 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 capitalization of $296.30 billion, a PE ratio of 27.87, a PEG ratio of 3.79 and a beta of 0.57. 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 released its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.