Parkside Financial Bank & Trust lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,889 shares of the company’s stock after buying an additional 842 shares during the quarter. Parkside Financial Bank & Trust’s holdings in The Coca-Cola were worth $974,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in The Coca-Cola during the 2nd quarter worth approximately $25,000. LFA Lugano Financial Advisors SA increased its holdings in The Coca-Cola by 348.8% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in The Coca-Cola during the 2nd quarter worth approximately $36,000. Candriam Luxembourg S.C.A. increased its holdings in The Coca-Cola by 1.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock worth $37,000 after acquiring an additional 6,373 shares during the period. Finally, KCS Wealth Advisory bought a new stake in The Coca-Cola during the 3rd quarter worth approximately $41,000. Institutional investors own 67.32% of the company’s stock.
In other news, SVP Nancy Quan sold 24,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.90, for a total value of $1,293,600.00. Following the completion of the sale, the senior vice president now owns 189,049 shares of the company’s stock, valued at approximately $10,189,741.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lisa Chang acquired 500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $53.24 per share, with a total value of $26,620.00. Following the purchase, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The disclosure for this purchase can be found here. Insiders sold a total of 403,026 shares of company stock worth $22,037,406 in the last three months. Insiders own 1.33% of the company’s stock.
A number of analysts recently weighed in on the stock. UBS Group raised shares of The Coca-Cola from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $63.00 in a report on Wednesday, October 23rd. Credit Suisse Group upped their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. BMO Capital Markets upped their target price on shares of The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Morgan Stanley reaffirmed a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a report on Tuesday, October 29th. Finally, Wells Fargo & Co set a $60.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.95.
Shares of NYSE:KO traded down $0.08 during trading on Friday, reaching $52.21. The company had a trading volume of 6,997,608 shares, compared to its average volume of 13,198,850. The company has a fifty day moving average of $53.85 and a two-hundred day moving average of $52.23. The stock has a market capitalization of $224.59 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The Coca-Cola Co has a 12 month low of $44.42 and a 12 month high of $55.92. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, equities research analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is 76.92%.
The Coca-Cola Company 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 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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