Monument Capital Management reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,857 shares of the company’s stock after selling 1,392 shares during the period. Monument Capital Management’s holdings in The Coca-Cola were worth $2,336,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in The Coca-Cola by 4.7% in the third quarter. Neuberger Berman Group LLC now owns 2,512,871 shares of the company’s stock valued at $116,070,000 after purchasing an additional 113,040 shares in the last quarter. Vanguard Group Inc raised its stake in The Coca-Cola by 1.4% in the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after purchasing an additional 3,918,108 shares in the last quarter. Endurance Wealth Management Inc. raised its stake in The Coca-Cola by 20.3% in the fourth quarter. Endurance Wealth Management Inc. now owns 2,369 shares of the company’s stock valued at $112,000 after purchasing an additional 400 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in The Coca-Cola by 1.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 2,219,260 shares of the company’s stock valued at $105,082,000 after purchasing an additional 24,745 shares in the last quarter. Finally, Cordasco Financial Network raised its stake in The Coca-Cola by 26.1% in the fourth quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock valued at $49,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 67.99% of the company’s stock.
KO has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on The Coca-Cola from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Credit Suisse Group initiated coverage on The Coca-Cola in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $48.00 price target for the company. Zacks Investment Research downgraded The Coca-Cola from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $56.00 price target on shares of The Coca-Cola in a research note on Wednesday, February 13th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a research note on Thursday, February 14th. Fourteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.95.
The Coca-Cola stock opened at $49.18 on Thursday. The Coca-Cola Co has a 12-month low of $41.54 and a 12-month high of $50.84. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $204.98 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 3.23 and a beta of 0.53.
The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In other The Coca-Cola news, SVP Nancy Quan sold 23,320 shares of The Coca-Cola stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.95, for a total value of $1,118,194.00. Following the transaction, the senior vice president now owns 165,049 shares in the company, valued at $7,914,099.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the completion of the transaction, the insider now owns 77,109 shares in the company, valued at approximately $3,778,341. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
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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 sparkling soft drinks; water, enhanced water, and sports drinks; 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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