HM Payson & Co. reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,450 shares of the company’s stock after selling 6,946 shares during the period. HM Payson & Co.’s holdings in The Coca-Cola were worth $7,447,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of KO. Meeder Asset Management Inc. boosted its holdings in The Coca-Cola by 59.4% in 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 in the last quarter. Legacy Advisors LLC bought a new stake in The Coca-Cola in the third quarter worth $139,000. Almanack Investment Partners LLC. bought a new stake in The Coca-Cola in the second quarter worth $142,000. Perkins Coie Trust Co boosted its holdings in The Coca-Cola by 21.9% in 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 in the last quarter. Finally, Shine Investment Advisory Services Inc. boosted its holdings in The Coca-Cola by 102.2% in the third quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock worth $143,000 after purchasing an additional 1,610 shares in the last quarter. Institutional investors and hedge funds own 65.30% of the company’s stock.
A number of brokerages recently issued reports on KO. Goldman Sachs Group set a $45.00 price objective on shares of The Coca-Cola and gave the stock a “sell” rating in a report on Wednesday, November 15th. Susquehanna Bancshares set a $45.00 price objective on shares of The Coca-Cola and gave the stock a “hold” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, November 16th. 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 research report on Monday, December 11th. Finally, Morgan Stanley set a $48.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.01.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. sell-side analysts forecast that The Coca-Cola Co will post 1.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date 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 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 $14,749,399.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by corporate insiders.
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).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.