Thomas Story & Son LLC reduced its position in shares of The Coca-Cola Co (NYSE:KO) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,151 shares of the company’s stock after selling 300 shares during the period. The Coca-Cola comprises approximately 1.8% of Thomas Story & Son LLC’s holdings, making the stock its 22nd largest holding. Thomas Story & Son LLC’s holdings in The Coca-Cola were worth $3,438,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its stake in The Coca-Cola by 11.8% during the 3rd quarter. McIlrath & Eck LLC now owns 2,214 shares of the company’s stock worth $121,000 after buying an additional 233 shares during the last quarter. Watch Point Trust Co grew its stake in The Coca-Cola by 1.7% during the 3rd quarter. Watch Point Trust Co now owns 63,461 shares of the company’s stock worth $3,455,000 after buying an additional 1,056 shares during the last quarter. Barber Financial Group Inc. bought a new position in The Coca-Cola during the 3rd quarter worth $215,000. Lakeview Capital Partners LLC grew its stake in shares of The Coca-Cola by 1.0% in the third quarter. Lakeview Capital Partners LLC now owns 37,281 shares of the company’s stock worth $2,018,000 after purchasing an additional 363 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its stake in shares of The Coca-Cola by 13.9% in the third quarter. Eagle Asset Management Inc. now owns 3,215,421 shares of the company’s stock worth $175,047,000 after purchasing an additional 391,521 shares in the last quarter. 67.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Lisa Chang bought 500 shares of The Coca-Cola 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 completion of the acquisition, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the sale, the chief operating officer now directly owns 174,302 shares of the company’s stock, valued at $9,563,950.74. The disclosure for this sale can be found here. Insiders have sold 403,026 shares of company stock valued at $22,037,406 in the last ninety days. Company insiders own 1.33% of the company’s stock.
KO has been the subject of several recent analyst reports. BMO Capital Markets increased their price target on The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Atlantic Securities initiated coverage on The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 price target for the company. Guggenheim set a $59.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Co set a $60.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, HSBC reissued a “neutral” rating and issued a $52.00 price target on shares of The Coca-Cola in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The Coca-Cola has a consensus rating of “Buy” and a consensus price target of $55.95.
KO stock traded down $0.08 during trading hours on Friday, hitting $52.21. 6,997,608 shares of the stock traded hands, compared to its average volume of 13,198,850. The stock has a 50-day simple moving average of $53.85 and a 200 day simple moving average of $52.23. The Coca-Cola Co has a one year low of $44.42 and a one year high of $55.92. The company has a market cap of $224.59 billion, a P/E ratio of 25.10, a P/E/G ratio of 3.65 and a beta of 0.46. 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 announced its earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 3.06%. The Coca-Cola’s dividend payout ratio is currently 76.92%.
About The Coca-Cola
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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