Puzo Michael J Acquires New Stake in The Coca-Cola Company (KO)

Puzo Michael J acquired a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, HoldingsChannel reports. The fund acquired 6,825 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its position in shares of The Coca-Cola by 1.0% during the 4th quarter. CIBC Asset Management Inc now owns 518,511 shares of the company’s stock valued at $23,789,000 after buying an additional 5,353 shares in the last quarter. Linscomb & Williams Inc. lifted its position in shares of The Coca-Cola by 6.7% during the 4th quarter. Linscomb & Williams Inc. now owns 113,204 shares of the company’s stock valued at $5,194,000 after buying an additional 7,067 shares in the last quarter. Redmond Asset Management LLC purchased a new position in shares of The Coca-Cola during the 4th quarter valued at approximately $297,000. Checchi Capital Advisers LLC lifted its holdings in The Coca-Cola by 7.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 73,932 shares of the company’s stock valued at $3,392,000 after purchasing an additional 5,012 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in The Coca-Cola in the 4th quarter valued at $404,000. Institutional investors and hedge funds own 66.12% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of The Coca-Cola stock opened at $43.46 on Monday. The Coca-Cola Company has a 52 week low of $41.91 and a 52 week high of $48.62. The stock has a market capitalization of $185,396.27, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.64.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.36 billion. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. sell-side analysts anticipate that The Coca-Cola Company will post 2.09 earnings per share for the current fiscal year.

The firm 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.59%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 577.78%.

KO has been the topic of a number of research reports. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Wednesday, December 27th. TheStreet lowered The Coca-Cola from a “b” rating to a “c+” rating in a report on Thursday, November 30th. Credit Suisse Group restated an “outperform” rating and issued a $53.00 price objective (up previously from $51.00) on shares of The Coca-Cola in a report on Tuesday, February 20th. Finally, Wells Fargo upgraded The Coca-Cola from a “hold” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $51.00 in a report on Sunday, November 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $49.21.

In related news, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the completion of the sale, the insider now directly owns 98,995 shares of the company’s stock, valued at approximately $4,454,775. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 124,523 shares of company stock valued at $5,885,511 over the last three months. Corporate insiders own 1.48% of the company’s stock.

WARNING: “Puzo Michael J Acquires New Stake in The Coca-Cola Company (KO)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.com-unik.info/2018/03/19/puzo-michael-j-acquires-new-stake-in-the-coca-cola-company-ko.html.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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 Company (NYSE:KO).

Institutional Ownership by Quarter for The Coca-Cola (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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit