Anchor Capital Advisors LLC lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 7.6% during the third quarter, Holdings Channel reports. The fund owned 113,790 shares of the company’s stock after selling 9,350 shares during the quarter. Anchor Capital Advisors LLC’s holdings in The Coca-Cola were worth $5,256,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. WP Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $107,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $116,000. Westbourne Investment Advisors Inc. bought a new stake in shares of The Coca-Cola in the 3rd quarter valued at about $117,000. Fort L.P. bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $122,000. Finally, Sageworth Trust Co grew its position in shares of The Coca-Cola by 69.5% in the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 65.45% of the company’s stock.
KO stock opened at $48.69 on Tuesday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.78. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The company has a market cap of $204.76 billion, a P/E ratio of 25.49, a PEG ratio of 3.14 and a beta of 0.60.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping 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 business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The company also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
A number of brokerages have recently issued reports on KO. Macquarie reissued a “neutral” rating and issued a $50.00 price objective on shares of The Coca-Cola in a research note on Thursday, November 1st. Morgan Stanley boosted their price objective on The Coca-Cola from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, October 31st. HSBC reissued a “buy” rating and issued a $64.00 price objective on shares of The Coca-Cola in a research note on Wednesday, October 31st. Jefferies Financial Group boosted their price objective on The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 31st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 price objective on shares of The Coca-Cola in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The Coca-Cola has an average rating of “Hold” and an average target price of $51.22.
In other The Coca-Cola news, insider Brian John Smith sold 43,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the sale, the insider now directly owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total value of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at $4,445,107.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,754 shares of company stock worth $2,954,800. 1.48% of the stock is owned by company insiders.
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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 plantbased 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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