The Vanguard Group, Inc. recently announced the acquisition of new stake in Coca-Cola Co (NYSE:KO). The institutional investor has increased its shareholding in the Consumer Defensive company by 0.21% to 353.79 million shares with purchase of 0.73 million shares. This fresh investment now brings its stake to 8.18% valued currently at $20.85 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.1 million to 199.02 million shares. And Geode Capital Management LLC has lifted its position by 4.18% or 3.31 million shares – to 82.48 million shares.
Currently, there are 4.33B common shares owned by the public and among those 4.30B shares have been available to trade.
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Insiders at the company have transacted a total of 79 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 2,466,125 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 1,943,826 shares.
The top 3 mutual fund holders in Coca-Cola Co are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 122.03 million shares of the company’s stock, all valued at over $7.19 billion. The company bought an additional 64936.0 shares recently to bring their total holdings to about 2.82% of the shares outstanding. Vanguard 500 Index Fund bought 0.15 million shares to see its total holdings expand to 95.01 million shares valued at over $5.6 billion and representing 2.20% of the shares outstanding. SPDR S&P 500 ETF Trust sold -0.26 million shares to bring its total holdings to over 47.61 million shares at a value of $2.81 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.10% of the shares outstanding.
However, the script later moved the day high at 59.49, up 0.35%. The company’s stock has a 5-day price change of -0.77% and 5.79% over the past three months. KO shares are trading 0.75% year to date (YTD), with the 12-month market performance down to -2.56% lower. It has a 12-month low price of $51.55 and touched a high of $64.99 over the same period. KO has an average intraday trading volume of 14.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.52%, 0.85%, and -0.37% respectively.
Institutional ownership of Coca-Cola Co (NYSE: KO) shares accounts for 71.70% of the company’s 4.33B shares outstanding. Mutual fund holders own 33.38%, while other institutional holders and individual stakeholders account for 38.58% and 15.04% respectively.
It has a market capitalization of $256.68B and a beta (3y monthly) value of 0.59. The stock’s trailing 12-month PE ratio is 23.93, while the earnings-per-share (ttm) stands at $2.48. The company has a PEG of 3.85 and a Quick Ratio of 0.97 with the debt-to-equity ratio at 1.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.00% over the week and 0.99% over the month.
Analysts forecast that Coca-Cola Co (KO) will achieve an EPS of $Altria Group, Inc. for the current quarter, $40.20 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Realty Income Corporation while analysts give the company a high EPS estimate of $Korean Won Futures,Mar-2024. Comparatively, EPS for the current quarter was $Czech Koruna Futures,Mar-2024 a year ago. Earnings per share for the fiscal year are expected to increase by 8.31%, and 4.34% over the next financial year. EPS should shrink at an annualized rate of 6.22% over the next five years, compared to 50.03% over the past 5-year period.
Looking at the support for the KO, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on January 17, 2024, with the firm’s price target at $67-$68.
