Financial Counselors Inc. reduced its holdings in shares of The Coca-Cola Co (NYSE:KO) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,182 shares of the company’s stock after selling 2,611 shares during the quarter. Financial Counselors Inc.’s holdings in The Coca-Cola were worth $10,817,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in The Coca-Cola by 8.7% in the first quarter. Principal Financial Group Inc. now owns 8,128,273 shares of the company’s stock worth $353,011,000 after purchasing an additional 648,091 shares during the last quarter. IFM Investors Pty Ltd boosted its position in The Coca-Cola by 45.6% in the second quarter. IFM Investors Pty Ltd now owns 183,428 shares of the company’s stock worth $8,045,000 after purchasing an additional 57,413 shares during the last quarter. Empirical Finance LLC boosted its position in The Coca-Cola by 41.6% in the second quarter. Empirical Finance LLC now owns 6,752 shares of the company’s stock worth $296,000 after purchasing an additional 1,983 shares during the last quarter. Cullinan Associates Inc. boosted its position in The Coca-Cola by 1.2% in the second quarter. Cullinan Associates Inc. now owns 1,227,673 shares of the company’s stock worth $53,846,000 after purchasing an additional 14,900 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in The Coca-Cola by 1.7% in the second quarter. Fisher Asset Management LLC now owns 558,855 shares of the company’s stock worth $24,511,000 after purchasing an additional 9,586 shares during the last quarter. Institutional investors own 65.44% of the company’s stock.
In related 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 transaction of $411,000.30. Following the sale, the senior vice president now directly owns 28,354 shares in the company, valued at approximately $1,331,220.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian John Smith sold 43,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total value of $2,064,000.00. Following the transaction, the insider now owns 123,908 shares of the company’s stock, valued at $5,947,584. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,754 shares of company stock worth $2,954,800. 1.48% of the stock is currently owned by corporate insiders.
NYSE:KO opened at $48.00 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 52-week low of $41.45 and a 52-week high of $48.62. The firm has a market cap of $204.76 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.15 and a beta of 0.60.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.25%. The Coca-Cola’s payout ratio is 81.68%.
Several analysts have issued reports on the company. Jefferies Financial Group restated a “neutral” rating and issued a $45.00 target price on shares of The Coca-Cola in a research note on Tuesday, July 10th. Macquarie set a $47.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Stifel Nicolaus restated a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Monday, July 16th. JPMorgan Chase & Co. restated a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 18th. Finally, TheStreet upgraded The Coca-Cola from a “c+” rating to a “b-” rating in a research note on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given 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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