LPL Financial LLC increased its holdings in The Coca-Cola Co (NYSE:KO) by 25.3% during the 1st quarter, Holdings Channel reports. The firm owned 1,620,674 shares of the company’s stock after buying an additional 327,650 shares during the period. LPL Financial LLC’s holdings in The Coca-Cola were worth $70,386,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Princeton Capital Management LLC bought a new stake in shares of The Coca-Cola in the first quarter worth about $100,000. Santori & Peters Inc. bought a new stake in The Coca-Cola during the 4th quarter valued at approximately $127,000. Goodman Financial Corp bought a new stake in The Coca-Cola during the 4th quarter valued at approximately $143,000. First Dallas Securities Inc. bought a new stake in The Coca-Cola during the 4th quarter valued at approximately $155,000. Finally, IFG Advisory LLC bought a new stake in The Coca-Cola during the 4th quarter valued at approximately $2,416,000. 65.62% of the stock is currently owned by institutional investors.
Several analysts have weighed in on KO shares. Morningstar set a $48.50 price objective on The Coca-Cola and gave the company a “buy” rating in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 price objective on shares of The Coca-Cola in a research report on Monday, April 23rd. Citigroup reaffirmed a “buy” rating on shares of The Coca-Cola in a research report on Thursday, May 17th. Zacks Investment Research cut The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, Societe Generale set a $46.50 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, April 25th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and an average target price of $49.42.
Shares of KO opened at $43.25 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 1.38. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $48.62. The company has a market capitalization of $183.82 billion, a PE ratio of 22.64, a P/E/G ratio of 2.55 and a beta of 0.73.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The firm had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.61%. The Coca-Cola’s payout ratio is currently 81.68%.
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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