Retirement Income Solutions Inc reduced its position in The Coca-Cola Co (NYSE:KO) by 30.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,113 shares of the company’s stock after selling 1,833 shares during the quarter. Retirement Income Solutions Inc’s holdings in The Coca-Cola were worth $228,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in The Coca-Cola by 1.3% during the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock worth $9,959,624,000 after acquiring an additional 2,412,293 shares in the last quarter. California Public Employees Retirement System raised its stake in The Coca-Cola by 0.7% during the fourth quarter. California Public Employees Retirement System now owns 24,612,179 shares of the company’s stock worth $1,362,284,000 after acquiring an additional 175,141 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in The Coca-Cola by 3.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,806,390 shares of the company’s stock worth $930,234,000 after acquiring an additional 593,535 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in The Coca-Cola by 3.7% during the third quarter. Parametric Portfolio Associates LLC now owns 12,325,827 shares of the company’s stock worth $671,018,000 after acquiring an additional 445,296 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in The Coca-Cola by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 8,937,962 shares of the company’s stock worth $494,716,000 after acquiring an additional 160,880 shares in the last quarter. 67.58% of the stock is owned by hedge funds and other institutional investors.
KO stock traded up $0.34 during midday trading on Friday, reaching $59.95. The stock had a trading volume of 9,965,459 shares, compared to its average volume of 12,463,828. The business has a fifty day simple moving average of $56.84 and a two-hundred day simple moving average of $54.61. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm has a market cap of $256.00 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.66 and a beta of 0.41. The Coca-Cola Co has a twelve month low of $44.42 and a twelve month high of $60.07.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $8.88 billion. The Coca-Cola had a return on equity of 44.39% and a net margin of 24.38%. The company’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts predict that The Coca-Cola Co will post 2.26 earnings per share for the current fiscal year.
In other The Coca-Cola news, COO Brian John Smith sold 32,808 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.00, for a total transaction of $1,902,864.00. Following the transaction, the chief operating officer now owns 147,110 shares in the company, valued at $8,532,380. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Nancy Quan sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the transaction, the senior vice president now owns 175,049 shares in the company, valued at approximately $8,052,254. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,097 shares of company stock worth $9,887,839. Company insiders own 1.33% of the company’s stock.
Several research analysts have issued reports on KO shares. Citigroup increased their price objective on The Coca-Cola from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price objective on The Coca-Cola from $60.00 to $66.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. UBS Group increased their price objective on The Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. BMO Capital Markets raised their target price on The Coca-Cola from $52.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Guggenheim set a $59.00 target price on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $59.58.
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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