The Coca-Cola Company (KO) Shares Sold by Sompo Japan Nipponkoa Asset Management CO. LTD.
Sompo Japan Nipponkoa Asset Management CO. LTD. lowered its stake in The Coca-Cola Company (NYSE:KO) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 163,952 shares of the company’s stock after selling 1,296 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in The Coca-Cola were worth $7,522,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in The Coca-Cola by 55.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 98,668 shares of the company’s stock worth $4,527,000 after purchasing an additional 35,312 shares during the last quarter. Monument Capital Management acquired a new stake in The Coca-Cola during the 4th quarter worth $1,863,000. Boston Financial Mangement LLC boosted its stake in The Coca-Cola by 1.8% during the 4th quarter. Boston Financial Mangement LLC now owns 64,986 shares of the company’s stock worth $2,982,000 after purchasing an additional 1,180 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in The Coca-Cola by 2.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 768,815 shares of the company’s stock worth $35,273,000 after purchasing an additional 17,536 shares during the last quarter. Finally, Columbia Asset Management boosted its stake in The Coca-Cola by 4.0% during the 4th quarter. Columbia Asset Management now owns 98,545 shares of the company’s stock worth $4,521,000 after purchasing an additional 3,783 shares during the last quarter. 66.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Coca-Cola Company (NYSE:KO) opened at $42.76 on Friday. The stock has a market cap of $183,433.95, a PE ratio of 22.51, a P/E/G ratio of 2.49 and a beta of 0.77. The Coca-Cola Company has a fifty-two week low of $41.91 and a fifty-two week high of $48.62. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.34 and a quick ratio of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.39 dividend. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Wednesday, March 14th. The Coca-Cola’s payout ratio is 577.78%.
KO has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a target price (up previously from ) on shares of The Coca-Cola in a research note on Friday, February 16th. Barclays reaffirmed a “neutral” rating and set a $45.00 target price on shares of The Coca-Cola in a research note on Thursday, March 15th. Morningstar set a $48.50 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Wednesday, February 28th. Societe Generale reissued a “neutral” rating and set a $48.80 price target on shares of The Coca-Cola in a research report on Monday, February 19th. Finally, Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $49.21.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the sale, the chief financial officer now directly owns 123,796 shares in the company, valued at $5,713,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer K. Mann sold 1,883 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the sale, the insider now owns 98,995 shares in the company, valued at $4,454,775. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,523 shares of company stock worth $5,885,511. 1.48% of the stock is owned by insiders.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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