Steinberg Global Asset Management Has $663,000 Position in The Coca-Cola Co (KO)

Steinberg Global Asset Management boosted its holdings in The Coca-Cola Co (NYSE:KO) by 26.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,723 shares of the company’s stock after acquiring an additional 3,068 shares during the quarter. Steinberg Global Asset Management’s holdings in The Coca-Cola were worth $663,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in The Coca-Cola by 59.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after buying an additional 1,026 shares during the last quarter. Eagle Ridge Investment Management purchased a new stake in The Coca-Cola during the 2nd quarter valued at $138,000. SRS Capital Advisors Inc. raised its stake in The Coca-Cola by 8.6% during the 1st quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock valued at $141,000 after buying an additional 264 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in The Coca-Cola during the 2nd quarter valued at $142,000. Finally, Perkins Coie Trust Co increased its stake in shares of The Coca-Cola by 21.9% in the 2nd quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after purchasing an additional 572 shares in the last quarter. 65.30% of the stock is currently owned by institutional investors and hedge funds.

In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the completion of the transaction, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on KO shares. Royal Bank of Canada restated a “buy” rating and issued a $49.00 price objective on shares of The Coca-Cola in a research note on Wednesday, September 6th. Jefferies Group restated a “hold” rating and issued a $47.00 price objective on shares of The Coca-Cola in a research note on Thursday, September 7th. Vetr upgraded The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Macquarie started coverage on The Coca-Cola in a research note on Friday, September 15th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, upped their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.30.

The Coca-Cola Co (NYSE KO) opened at $45.81 on Wednesday. The Coca-Cola Co has a 1-year low of $40.22 and a 1-year high of $47.48. The company has a market cap of $194,243.81, a PE ratio of 43.63, a price-to-earnings-growth ratio of 3.90 and a beta of 0.70. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The business had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue was down 14.6% on a year-over-year basis. equities research analysts forecast that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is presently 140.95%.

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The Coca-Cola Company Profile

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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