Lodestar Investment Counsel LLC IL lessened its position in shares of The Coca-Cola Co (NYSE:KO) by 2.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 106,286 shares of the company’s stock after selling 2,455 shares during the quarter. Lodestar Investment Counsel LLC IL’s holdings in The Coca-Cola were worth $4,909,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in The Coca-Cola by 8.7% in the 1st quarter. Principal Financial Group Inc. now owns 8,128,273 shares of the company’s stock worth $353,011,000 after buying an additional 648,091 shares in the last quarter. GQG Partners LLC purchased a new stake in The Coca-Cola in the 1st quarter worth approximately $49,616,000. Wealthcare Advisory Partners LLC lifted its position in The Coca-Cola by 22.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,100 shares of the company’s stock worth $569,000 after buying an additional 2,386 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in The Coca-Cola by 25.0% in the 1st quarter. Baker Avenue Asset Management LP now owns 8,623 shares of the company’s stock worth $374,000 after buying an additional 1,723 shares in the last quarter. Finally, First Foundation Advisors lifted its position in The Coca-Cola by 39.9% in the 1st quarter. First Foundation Advisors now owns 88,807 shares of the company’s stock worth $3,857,000 after buying an additional 25,328 shares in the last quarter. 65.38% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. Gabelli restated a “hold” rating on shares of The Coca-Cola in a research note on Thursday, July 26th. Societe Generale set a $49.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, August 13th. Jefferies Financial Group restated a “neutral” rating and set a $48.00 price target on shares of The Coca-Cola in a research note on Wednesday, August 22nd. Wells Fargo & Co restated a “buy” rating and set a $52.00 price target on shares of The Coca-Cola in a research note on Wednesday, September 5th. Finally, Stifel Nicolaus restated a “neutral” rating and set a $49.00 price target on shares of The Coca-Cola in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Hold” and an average price target of $50.74.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the sale, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Murphy sold 56,000 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the transaction, the insider now directly owns 140,869 shares of the company’s stock, valued at $6,547,591.12. The disclosure for this sale can be found here. Insiders sold a total of 215,822 shares of company stock worth $10,027,727 over the last 90 days. Company insiders own 1.48% of the company’s stock.
NYSE KO opened at $46.33 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $194.57 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.87 and a beta of 0.75. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $48.62.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.54 billion. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Research analysts forecast that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.39 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.37%. The Coca-Cola’s dividend payout ratio is 81.68%.
The Coca-Cola Company 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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