Virtu Financial LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Virtu Financial LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 34,026 shares of the company’s stock, valued at approximately $2,118,000.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 2,966,964 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 18.5% during 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. Wellington Management Group LLP boosted its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $68.58 on Friday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a 50-day simple moving average of $67.00 and a 200 day simple moving average of $66.48. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $295.12 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.