Mutual Advisors LLC cut its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,245 shares of the company’s stock after selling 1,062 shares during the period. Mutual Advisors LLC’s holdings in Coca-Cola were worth $2,620,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in KO. Cohen Lawrence B lifted its position in shares of Coca-Cola by 0.3% in the 4th quarter. Cohen Lawrence B now owns 51,742 shares of the company’s stock worth $3,064,000 after acquiring an additional 163 shares during the period. McClarren Financial Advisors Inc. lifted its position in shares of Coca-Cola by 18.5% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,077 shares of the company’s stock worth $64,000 after acquiring an additional 168 shares during the period. Avity Investment Management Inc. lifted its position in shares of Coca-Cola by 0.4% in the 4th quarter. Avity Investment Management Inc. now owns 44,087 shares of the company’s stock worth $2,610,000 after acquiring an additional 171 shares during the period. Veriti Management LLC raised its holdings in shares of Coca-Cola by 0.3% in the 4th quarter. Veriti Management LLC now owns 54,341 shares of the company’s stock worth $3,218,000 after buying an additional 173 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Coca-Cola by 3.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,060 shares of the company’s stock worth $300,000 after buying an additional 176 shares in the last quarter. Institutional investors own 68.51% of the company’s stock.
In other news, SVP Jennifer K. Mann sold 11,337 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $62.90, for a total value of $713,097.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alfredo Rivera sold 17,709 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $62.60, for a total value of $1,108,583.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 618,845 shares of company stock worth $39,601,992. Company insiders own 0.98% of the company’s stock.
Coca-Cola (NYSE:KO – Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. Coca-Cola’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 73.95%.
KO has been the subject of a number of recent research reports. The Goldman Sachs Group set a $58.00 target price on Coca-Cola in a report on Thursday, February 10th. Royal Bank of Canada raised their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Guggenheim lifted their target price on Coca-Cola from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. StockNews.com raised Coca-Cola from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Finally, HSBC lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $67.29.
Coca-Cola Company Profile (Get Rating)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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