Boston Research & Management Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.9% in the fourth quarter, Holdings Channel reports. The fund owned 81,189 shares of the company’s stock after selling 2,385 shares during the period. The Coca-Cola accounts for about 1.9% of Boston Research & Management Inc.’s investment portfolio, making the stock its 20th largest holding. Boston Research & Management Inc.’s holdings in The Coca-Cola were worth $3,724,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of The Coca-Cola by 1,117.2% during the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after buying an additional 12,243,387 shares in the last quarter. Capital World Investors raised its holdings in shares of The Coca-Cola by 8.9% during the 2nd 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. Ferox Capital Management LP purchased a new position in shares of The Coca-Cola during the 4th quarter valued at about $8,213,000. Troy Asset Management Ltd purchased a new position in shares of The Coca-Cola during the 3rd quarter valued at about $260,266,000. Finally, Vanguard Group Inc. raised its holdings in shares of The Coca-Cola by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after buying an additional 4,818,963 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
KO opened at $43.92 on Monday. 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 Company has a 52-week low of $42.19 and a 52-week high of $48.62. The company has a market cap of $187,358.58, a PE ratio of 22.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.72.
The Coca-Cola (NYSE:KO) last posted its earnings results on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $7.36 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was down 20.2% compared to the same quarter last year. equities analysts anticipate that The Coca-Cola Company will post 2.09 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 14th. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 3.55%. The Coca-Cola’s payout ratio is 81.68%.
In related news, insider Jennifer K. Mann sold 1,883 shares of The Coca-Cola stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the sale, the insider now directly owns 98,995 shares in the company, valued at $4,454,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total value of $719,250.00. Following the sale, the insider now owns 24,673 shares in the company, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold 124,523 shares of company stock worth $5,885,511 over the last 90 days. 1.48% of the stock is currently owned by corporate insiders.
KO has been the topic of a number of research reports. Vetr raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price objective on the stock in a report on Friday, December 22nd. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, December 21st. 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. Credit Suisse Group reaffirmed a “buy” rating on shares of The Coca-Cola in a research note on Tuesday, February 13th. Finally, Morningstar set a $48.50 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. The Coca-Cola currently has a consensus 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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