HL Financial Services LLC lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 625,065 shares of the company’s stock after selling 20,597 shares during the period. HL Financial Services LLC’s holdings in The Coca-Cola were worth $28,134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Meeder Asset Management Inc. raised its position in The Coca-Cola by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after purchasing an additional 1,026 shares during the period. Legacy Advisors LLC purchased a new stake in The Coca-Cola in the third quarter valued at $139,000. Almanack Investment Partners LLC. purchased a new stake in The Coca-Cola in the second quarter valued at $142,000. Perkins Coie Trust Co raised its position in The Coca-Cola by 21.9% in the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock valued at $143,000 after purchasing an additional 572 shares during the period. Finally, Shine Investment Advisory Services Inc. raised its position 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 valued at $143,000 after purchasing an additional 1,610 shares during the period. 65.30% of the stock is currently owned by institutional investors.
Shares of The Coca-Cola Co (NYSE KO) opened at $46.15 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $196,630.00, a price-to-earnings ratio of 43.95, a P/E/G ratio of 3.69 and a beta of 0.70. The Coca-Cola Co has a 1-year low of $40.22 and a 1-year high of $47.48.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $9.08 billion for the quarter, compared to the consensus estimate of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts forecast that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The Coca-Cola’s dividend payout ratio is presently 140.95%.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the sale, the insider now owns 320,013 shares in the company, valued at approximately $14,749,399.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by insiders.
A number of research firms have commented on KO. Stifel Nicolaus restated a “hold” rating and issued a $49.00 target price on shares of The Coca-Cola in a research report on Friday, December 22nd. Goldman Sachs Group set a $49.00 target price on The Coca-Cola and gave the company a “sell” rating in a research report on Wednesday. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $46.04 to $55.00 in a research report on Friday. Jefferies Group restated a “hold” rating and issued a $47.00 target price on shares of The Coca-Cola in a research report on Wednesday, October 25th. Finally, Morgan Stanley set a $48.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.01.
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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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