Pictet Asset Management Ltd. trimmed its position in The Coca-Cola Co (NYSE:KO) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,250,666 shares of the company’s stock after selling 556,510 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of The Coca-Cola worth $101,303,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Meeder Asset Management Inc. grew its position in shares of 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 last quarter. Eagle Ridge Investment Management acquired a new stake in The Coca-Cola during the second quarter worth approximately $138,000. SRS Capital Advisors Inc. grew its position in The Coca-Cola by 8.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock worth $141,000 after buying an additional 264 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in The Coca-Cola during the second quarter worth approximately $142,000. Finally, Perkins Coie Trust Co grew its position in The Coca-Cola by 21.9% during the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after buying an additional 572 shares in the last quarter. Institutional investors and hedge funds own 65.30% of the company’s stock.
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 company has a market cap of $196,630.00, a P/E 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 released its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The Coca-Cola’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. analysts expect that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.37 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.21%. The Coca-Cola’s dividend payout ratio (DPR) is currently 140.95%.
Several equities research analysts have weighed in on the company. Susquehanna Bancshares set a $41.00 target price on The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group set a $45.00 price target on The Coca-Cola and gave the company a “sell” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 price target on The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co upgraded The Coca-Cola from a “market perform” rating to an “outperform” rating and increased their price target for the company from $46.72 to $51.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research report on Sunday, November 12th. Two research 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’s stock. The stock has an average rating of “Hold” and an average target price of $49.01.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares in the company, valued at $14,749,399.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is owned by insiders.
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The Coca-Cola Profile
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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