Bradley Foster & Sargent Inc. CT cut its holdings in The Coca-Cola Co (NYSE:KO) by 3.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 395,022 shares of the company’s stock after selling 13,340 shares during the quarter. Bradley Foster & Sargent Inc. CT owned 92.71% of The Coca-Cola worth $17,780,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in The Coca-Cola by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after purchasing an additional 1,026 shares during the period. Eagle Ridge Investment Management bought a new stake in The Coca-Cola during the second quarter worth about $138,000. Legacy Advisors LLC bought a new stake in The Coca-Cola during the third quarter worth about $139,000. Almanack Investment Partners LLC. bought a new stake in The Coca-Cola during the second quarter worth about $142,000. Finally, Perkins Coie Trust Co lifted its position in The Coca-Cola by 21.9% during the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after purchasing an additional 572 shares during the period. Institutional investors and hedge funds own 65.30% of the company’s stock.
KO has been the subject of several recent analyst reports. Wells Fargo & Co raised shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $46.72 to $51.00 in a research report on Tuesday, November 14th. Deutsche Bank began coverage on shares of The Coca-Cola in a report on Wednesday, December 13th. They issued a “buy” rating and a $52.00 target price for the company. Vetr raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 target price for the company in a report on Monday, December 11th. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Friday, October 27th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and an average target price of $48.76.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company 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 posted $0.49 earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. analysts expect that The Coca-Cola Co will post 1.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is currently 140.95%.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value 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 $14,749,399.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.
About The Coca-Cola
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.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
What are top analysts saying about The Coca-Cola? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for The Coca-Cola and related companies.