CHURCHILL MANAGEMENT Corp cut its stake in The Coca-Cola Co (NYSE:KO) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 395,865 shares of the company’s stock after selling 1,468 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in The Coca-Cola were worth $18,162,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Veritas Investment Management LLP bought a new position in shares of The Coca-Cola in the third quarter worth about $135,000. Spectrum Management Group Inc. purchased a new stake in The Coca-Cola in the third quarter worth about $137,000. Legacy Advisors LLC purchased a new stake in The Coca-Cola in the third quarter worth about $139,000. Almanack Investment Partners LLC. purchased a new stake in The Coca-Cola in the second quarter worth about $142,000. Finally, Shine Investment Advisory Services Inc. lifted its stake 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 acquiring an additional 1,610 shares during the period. Hedge funds and other institutional investors own 65.34% of the company’s stock.
A number of analysts recently weighed in on KO shares. Royal Bank of Canada set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Goldman Sachs Group set a $45.00 price objective on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Evercore ISI raised shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $46.04 to $55.00 in a research note on Friday, January 12th. 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 note on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Hold” and an average target price of $49.09.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.36 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. equities research analysts predict that The Coca-Cola Co will post 2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a $0.39 dividend. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 134.55%.
In related news, insider Robert Edward Long sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the transaction, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at $5,713,185.40. The disclosure for this sale can be found here. Insiders sold a total of 122,640 shares of company stock valued at $5,800,776 over the last ninety days. 1.51% of the stock is currently owned by 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.
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