Thoroughbred Financial Services LLC lessened its stake in Coca-Cola Co (The) (NYSE:KO) by 46.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,809 shares of the company’s stock after selling 14,694 shares during the period. Thoroughbred Financial Services LLC’s holdings in Coca-Cola were worth $751,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. National Pension Service increased its position in shares of Coca-Cola by 7.1% during the 4th quarter. National Pension Service now owns 4,485,325 shares of the company’s stock valued at $248,263,000 after purchasing an additional 298,886 shares during the period. Howland Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.6% in the second quarter. Howland Capital Management LLC now owns 51,342 shares of the company’s stock valued at $2,294,000 after buying an additional 1,807 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Coca-Cola by 2.6% during the first quarter. YorkBridge Wealth Partners LLC now owns 28,202 shares of the company’s stock valued at $1,248,000 after buying an additional 721 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in Coca-Cola by 22.6% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 32,825 shares of the company’s stock worth $1,452,000 after acquiring an additional 6,041 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its position in Coca-Cola by 15.8% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 107,383 shares of the company’s stock worth $4,798,000 after acquiring an additional 14,679 shares in the last quarter. 67.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Cfra lowered their price objective on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 21st. Bank of America reissued a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research note on Friday. JPMorgan Chase & Co. upgraded Coca-Cola from a “neutral” rating to an “overweight” rating and set a $44.00 price target for the company in a research report on Monday, March 23rd. Argus raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, March 27th. Finally, Jefferies Financial Group decreased their target price on shares of Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.32.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.32 billion. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. On average, analysts anticipate that Coca-Cola Co will post 1.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, September 14th. Coca-Cola’s payout ratio is 77.73%.
In related news, SVP Lisa Chang acquired 1,650 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $46.74 per share, with a total value of $77,121.00. Following the acquisition, the senior vice president now owns 5,826 shares in the company, valued at approximately $272,307.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.01% of the stock is owned by company insiders.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.
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