Wallace Capital Management Inc. trimmed its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 136,668 shares of the company’s stock after selling 5,261 shares during the quarter. Wallace Capital Management Inc.’s holdings in The Coca-Cola were worth $6,313,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. C WorldWide Group Holding A S increased its holdings in The Coca-Cola by 873.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock valued at $334,692,000 after buying an additional 6,846,641 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in The Coca-Cola in the 2nd quarter valued at about $206,654,000. Natixis increased its holdings in The Coca-Cola by 218.3% in the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock valued at $178,955,000 after buying an additional 2,798,257 shares during the period. Eaton Vance Management increased its holdings in The Coca-Cola by 39.4% in the 3rd quarter. Eaton Vance Management now owns 6,792,655 shares of the company’s stock valued at $313,752,000 after buying an additional 1,918,931 shares during the period. Finally, Bank of Montreal Can increased its holdings in The Coca-Cola by 47.4% in the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock valued at $274,099,000 after buying an additional 1,907,604 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Coca-Cola stock opened at $49.58 on Thursday. The company has a market cap of $211.50 billion, a P/E ratio of 25.96, a P/E/G ratio of 3.25 and a beta of 0.61. 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 Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $50.84.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Co will post 2.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.15%. The Coca-Cola’s dividend payout ratio is presently 81.68%.
In related news, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, October 24th. The shares were 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 can be accessed through this link. Also, insider Jennifer K. Mann sold 15,100 shares of The Coca-Cola stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $50.40, for a total transaction of $761,040.00. Following the sale, the insider now owns 40,058 shares in the company, valued at $2,018,923.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,542 shares of company stock worth $18,436,957. 1.48% of the stock is owned by corporate insiders.
Several equities analysts have commented on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a report on Monday, November 19th. Macquarie reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a report on Tuesday. Citigroup set a $56.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a report on Friday, November 9th. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, November 6th. Finally, Morgan Stanley raised their target price on shares of The Coca-Cola from $50.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and an average price target of $51.43.
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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 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.
See Also: Debt-To-Equity Ratio
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