Moisand Fitzgerald Tamayo LLC raised its stake in shares of The Coca-Cola Co (NYSE:KO) by 49.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,286 shares of the company’s stock after purchasing an additional 3,393 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in The Coca-Cola were worth $463,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after acquiring an additional 4,818,963 shares during the period. BlackRock Inc. increased its stake in The Coca-Cola by 0.3% in the second quarter. BlackRock Inc. now owns 241,677,773 shares of the company’s stock valued at $10,839,247,000 after acquiring an additional 750,257 shares during the period. Capital World Investors increased its stake in The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after acquiring an additional 11,593,679 shares during the period. Northern Trust Corp increased its stake in The Coca-Cola by 4.5% in the second quarter. Northern Trust Corp now owns 50,761,341 shares of the company’s stock valued at $2,276,647,000 after acquiring an additional 2,167,225 shares during the period. Finally, Capital International Investors increased its stake in The Coca-Cola by 1.0% in the second quarter. Capital International Investors now owns 37,897,916 shares of the company’s stock valued at $1,699,722,000 after acquiring an additional 383,733 shares during the period. Institutional investors own 65.30% of the company’s stock.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares in the company, valued at $14,749,399.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.51% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The Coca-Cola’s revenue was down 14.6% compared to the same quarter last year. equities analysts predict that The Coca-Cola Co will post 1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 annualized dividend and a yield of 3.21%. The Coca-Cola’s dividend payout ratio is currently 140.95%.
KO has been the topic of a number of analyst reports. Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Sunday, November 12th. Goldman Sachs Group set a $45.00 target price on shares of The Coca-Cola and gave the company a “sell” rating in a research note on Wednesday, November 15th. Jefferies Group set a $47.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Friday, October 13th. Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $46.72 to $51.00 in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $48.76.
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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.
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