American Century Companies Inc. Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Posted by Defense World Staff on Aug 29th, 2023

American Century Companies Inc. increased its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 633,554 shares of the company’s stock after buying an additional 46,331 shares during the period. American Century Companies Inc.’s holdings in Coca-Cola were worth $38,797,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $25,000. Venturi Wealth Management LLC acquired a new position in shares of Coca-Cola during the 1st quarter worth about $25,000. Fortis Capital Advisors LLC purchased a new position in Coca-Cola in the 4th quarter valued at about $30,000. NewSquare Capital LLC increased its stake in Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Finally, Retirement Group LLC raised its holdings in shares of Coca-Cola by 51.5% during the fourth quarter. Retirement Group LLC now owns 550 shares of the company’s stock valued at $35,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 68.96% of the company’s stock.

Coca-Cola Trading Up 0.3 %

NYSE KO opened at $60.56 on Tuesday. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99. The stock has a market capitalization of $261.88 billion, a P/E ratio of 24.92, a PEG ratio of 3.54 and a beta of 0.54. The firm’s 50-day moving average is $61.01 and its two-hundred day moving average is $61.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95.

Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.63 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is 75.72%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KO shares. Wedbush increased their price objective on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Royal Bank of Canada raised their price target on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. HSBC dropped their price objective on shares of Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. StockNews.com initiated coverage on Coca-Cola in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Get Our Latest Analysis on Coca-Cola

Insider Buying and Selling at Coca-Cola

In other news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO John Murphy sold 156,290 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the sale, the chief financial officer now directly owns 228,830 shares in the company, valued at $14,210,343. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. Insiders sold a total of 227,364 shares of company stock valued at $14,122,016 in the last three months. 1.00% of the stock is owned by corporate insiders.

Coca-Cola Profile

(Free Report)

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.