Arizona State Retirement System grew its position in shares of The Coca-Cola Co (NYSE:KO) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 996,573 shares of the company’s stock after acquiring an additional 7,247 shares during the quarter. The Coca-Cola comprises 0.4% of Arizona State Retirement System’s holdings, making the stock its 29th largest holding. Arizona State Retirement System’s holdings in The Coca-Cola were worth $46,032,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in shares of The Coca-Cola by 0.9% during the third quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after acquiring an additional 4,973 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of The Coca-Cola by 1.1% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock valued at $10,236,000 after acquiring an additional 2,600 shares in the last quarter. HPM Partners LLC increased its holdings in shares of The Coca-Cola by 3.0% during the second quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock valued at $4,399,000 after acquiring an additional 2,931 shares in the last quarter. First Command Financial Services Inc. increased its holdings in shares of The Coca-Cola by 73.2% during the third quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock valued at $883,000 after acquiring an additional 8,084 shares in the last quarter. Finally, Baldwin Investment Management LLC bought a new stake in shares of The Coca-Cola during the second quarter valued at approximately $272,000. Hedge funds and other institutional investors own 65.44% of the company’s stock.
Shares of NYSE:KO opened at $47.74 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.06 and a current ratio of 1.06. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $48.62. The company has a market cap of $203.19 billion, a P/E ratio of 23.23, a P/E/G ratio of 3.00 and a beta of 0.75.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was down 9.2% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Co will post 2.07 earnings per share for the current fiscal year.
The firm also recently disclosed 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 of this dividend is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.27%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the business’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.48% of the stock is currently owned by insiders.
Several research firms have recently commented on KO. Gabelli restated a “hold” rating on shares of The Coca-Cola in a report on Thursday, July 26th. Societe Generale set a $49.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Monday, August 13th. Jefferies Financial Group reaffirmed a “neutral” rating and set a $48.00 target price on shares of The Coca-Cola in a research report on Wednesday, August 22nd. Wells Fargo & Co reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, September 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.22.
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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