HL Financial Services LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616,222 shares of the company’s stock after selling 8,843 shares during the period. HL Financial Services LLC’s holdings in The Coca-Cola were worth $28,272,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after acquiring an additional 4,818,963 shares during the period. BlackRock Inc. increased its position in shares of The Coca-Cola by 0.3% in the second quarter. BlackRock Inc. now owns 241,677,773 shares of the company’s stock valued at $10,839,247,000 after buying an additional 750,257 shares in the last quarter. Capital World Investors increased its position in shares of The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after buying an additional 11,593,679 shares in the last quarter. Northern Trust Corp increased its position in shares of The Coca-Cola by 4.5% in the second quarter. Northern Trust Corp now owns 50,761,341 shares of the company’s stock valued at $2,276,647,000 after buying an additional 2,167,225 shares in the last quarter. Finally, Capital International Investors increased its position in shares of The Coca-Cola by 1.0% in the second quarter. Capital International Investors now owns 37,897,916 shares of the company’s stock valued at $1,699,722,000 after buying an additional 383,733 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
In other The Coca-Cola news, insider Ed Hays sold 84,400 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the sale, the insider now owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,523 shares of company stock valued at $5,885,511. 1.48% of the stock is currently owned by corporate insiders.
Shares of The Coca-Cola stock opened at $43.92 on Friday. The firm has a market cap of $188,723.67, a PE ratio of 22.99, a P/E/G ratio of 2.56 and a beta of 0.72. The Coca-Cola Company has a 12-month low of $42.19 and a 12-month high of $48.62. 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 (NYSE:KO) last posted its quarterly earnings results on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The Coca-Cola’s quarterly revenue was down 20.2% on a year-over-year basis. equities research analysts predict that The Coca-Cola Company will post 2.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Wednesday, March 14th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is 81.68%.
A number of research analysts have recently weighed in on KO shares. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and raised their price target for the company from $46.04 to $55.00 in a research report on Friday, January 12th. Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Deutsche Bank started coverage on The Coca-Cola in a research note on Wednesday, December 13th. They issued a “buy” rating and a $52.00 price target on the stock. JPMorgan Chase reissued a “neutral” rating and issued a price target (up from ) on shares of The Coca-Cola in a research note on Friday, February 16th. Finally, Morgan Stanley reaffirmed a “neutral” rating and issued a $49.00 price objective (up from $48.00) on shares of The Coca-Cola in a research note on Monday, February 19th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $49.21.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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