Alaska Permanent Fund Corp Grows Position in The Coca-Cola Company (NYSE:KO)

Alaska Permanent Fund Corp grew its position in The Coca-Cola Company (NYSE:KO) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,581 shares of the company’s stock after purchasing an additional 813 shares during the period. Alaska Permanent Fund Corp’s holdings in Coca-Cola were worth $5,358,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KO. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.7 %

Shares of Coca-Cola stock opened at $62.19 on Friday. 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 business has a 50-day moving average price of $62.12 and a 200 day moving average price of $60.56. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The firm has a market cap of $267.89 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Barclays lifted 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Insider Activity

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last three months, insiders sold 223,665 shares of company stock valued at $13,995,465. Company insiders own 0.97% of the company’s stock.

About Coca-Cola

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.