State Treasurer State of Michigan reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,038 shares of the company’s stock after selling 40,800 shares during the period. State Treasurer State of Michigan’s holdings in The Coca-Cola were worth $51,571,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Trust LLC grew its stake in shares of The Coca-Cola by 1.4% in the second quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock worth $283,000 after acquiring an additional 89 shares during the period. Noesis Capital Mangement Corp grew its stake in shares of The Coca-Cola by 1.0% in the second quarter. Noesis Capital Mangement Corp now owns 8,680 shares of the company’s stock worth $389,000 after acquiring an additional 90 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of The Coca-Cola by 0.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,963 shares of the company’s stock worth $753,000 after acquiring an additional 95 shares during the period. Pacific Center for Financial Services grew its stake in shares of The Coca-Cola by 1.4% in the second quarter. Pacific Center for Financial Services now owns 7,422 shares of the company’s stock worth $333,000 after acquiring an additional 100 shares during the period. Finally, Monetary Management Group Inc. grew its position in The Coca-Cola by 1.0% during the second quarter. Monetary Management Group Inc. now owns 10,625 shares of the company’s stock valued at $477,000 after buying an additional 100 shares during the period. 66.15% of the stock is owned by institutional investors.
In other The Coca-Cola news, insider Jennifer K. Mann sold 1,883 shares of The Coca-Cola stock in a transaction on Monday, March 12th. The shares were sold at an average price of $45.00, for a total transaction of $84,735.00. Following the sale, the insider now owns 98,995 shares of the company’s stock, valued at approximately $4,454,775. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now directly owns 24,673 shares in the company, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders sold a total of 124,523 shares of company stock worth $5,885,511 in the last three months. 1.48% of the stock is owned by corporate insiders.
Shares of NYSE KO opened at $43.92 on Friday. The company has a market cap of $188,723.67, a PE ratio of 22.99, a PEG 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 debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.34.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The business had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter last year, the company earned $0.37 EPS. The business’s revenue was down 20.2% on a year-over-year basis. analysts forecast 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. Investors of record on Thursday, March 15th were paid a $0.39 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.55%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
KO has been the subject of several recent research reports. Evercore ISI upgraded shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their target price 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 target on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $53.00 price target (up from $51.00) on shares of The Coca-Cola in a research report on Tuesday, February 20th. Deutsche Bank initiated coverage on shares of The Coca-Cola in a research report on Wednesday, December 13th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Jefferies Group set a $50.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.21.
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The Coca-Cola Profile
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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