GFS Advisors LLC reduced its stake in Coca-Cola Company (The) (NYSE:KO) by 44.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,944 shares of the company’s stock after selling 28,800 shares during the quarter. GFS Advisors LLC’s holdings in Coca-Cola were worth $1,612,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Summit Financial Group Inc. acquired a new position in Coca-Cola in the second quarter valued at approximately $2,779,000. Global X Management Co. LLC raised its position in shares of Coca-Cola by 6.0% during the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock worth $9,966,000 after purchasing an additional 12,513 shares during the period. Montecito Bank & Trust raised its position in shares of Coca-Cola by 90.2% during the first quarter. Montecito Bank & Trust now owns 127,096 shares of the company’s stock worth $5,394,000 after purchasing an additional 60,258 shares during the period. BB&T Corp raised its position in shares of Coca-Cola by 9.5% during the second quarter. BB&T Corp now owns 913,715 shares of the company’s stock worth $40,980,000 after purchasing an additional 78,932 shares during the period. Finally, Keystone Financial Planning Inc. raised its position in shares of Coca-Cola by 2.1% during the first quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock worth $5,111,000 after purchasing an additional 2,465 shares during the period. 65.38% of the stock is currently owned by institutional investors.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the sale, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.51% of the company’s stock.
A number of brokerages have recently weighed in on KO. Goldman Sachs Group set a $45.00 target price on Coca-Cola and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Cowen reaffirmed a “hold” rating and set a $42.00 target price on shares of Coca-Cola in a research report on Thursday, August 24th. J P Morgan Chase & Co set a $49.00 target price on Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Vetr upgraded Coca-Cola from a “sell” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Finally, Morgan Stanley set a $48.00 price target on Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.80.
Coca-Cola Company (NYSE:KO) traded down $0.67 during mid-day trading on Thursday, hitting $45.78. The stock had a trading volume of 9,103,471 shares, compared to its average volume of 11,488,017. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The company has a market cap of $197,098.45, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 3.91 and a beta of 0.70. Coca-Cola Company has a 12 month low of $40.22 and a 12 month high of $47.48.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.73 billion. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. analysts predict that Coca-Cola Company will post 1.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.23%. Coca-Cola’s dividend payout ratio (DPR) is 140.95%.
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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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