Macnealy Hoover Investment Management Inc. lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,763 shares of the company’s stock after selling 1,518 shares during the period. The Coca-Cola accounts for approximately 1.3% of Macnealy Hoover Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Macnealy Hoover Investment Management Inc.’s holdings in The Coca-Cola were worth $1,824,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Swiss National Bank boosted its stake in The Coca-Cola by 3.0% in the 2nd quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock worth $735,069,000 after buying an additional 470,700 shares during the last quarter. Summit Financial Group Inc. acquired a new stake in The Coca-Cola in the 2nd quarter worth about $2,779,000. Global X Management Co. LLC boosted its stake in The Coca-Cola by 6.0% in the 2nd quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock worth $9,966,000 after buying an additional 12,513 shares during the last quarter. Amalgamated Bank boosted its stake in The Coca-Cola by 54.8% in the 2nd quarter. Amalgamated Bank now owns 448,572 shares of the company’s stock worth $20,118,000 after buying an additional 158,741 shares during the last quarter. Finally, Flippin Bruce & Porter Inc. boosted its stake in The Coca-Cola by 1.8% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 98,037 shares of the company’s stock worth $4,397,000 after buying an additional 1,705 shares during the last quarter. 65.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Coca-Cola Co (NYSE:KO) opened at $44.04 on Friday. The company has a market capitalization of $187,640.00, a PE ratio of 40.04, a P/E/G ratio of 2.67 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The Coca-Cola Co has a twelve month low of $41.58 and a twelve month high of $48.62.
The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.36 billion. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The company’s revenue was down 20.2% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. research analysts predict that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.54%. The Coca-Cola’s payout ratio is currently 134.55%.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the sale, the chief financial officer now directly owns 123,796 shares in the company, valued at approximately $5,713,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ed Hays sold 84,400 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 122,640 shares of company stock worth $5,800,776 over the last 90 days. 1.51% of the stock is owned by company insiders.
A number of research firms have recently commented on KO. JPMorgan Chase & Co. restated a “neutral” rating and issued a price objective (up from ) on shares of The Coca-Cola in a report on Friday, February 16th. BMO Capital Markets restated a “hold” rating and issued a $47.00 price objective on shares of The Coca-Cola in a report on Friday, October 27th. Societe Generale restated a “neutral” rating and issued a $48.80 price objective on shares of The Coca-Cola in a report on Monday, February 19th. Susquehanna Bancshares set a $45.00 price objective on The Coca-Cola and gave the stock a “hold” rating in a report on Tuesday, November 21st. Finally, Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The Coca-Cola currently has an average rating of “Hold” and an average price target of $49.24.
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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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