Great West Life Assurance Co. Can lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,736,279 shares of the company’s stock after selling 18,057 shares during the quarter. Great West Life Assurance Co. Can owned 0.09% of The Coca-Cola worth $163,913,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. FTB Advisors Inc. raised its stake in shares of The Coca-Cola by 10.3% during the first quarter. FTB Advisors Inc. now owns 27,827 shares of the company’s stock valued at $1,213,000 after acquiring an additional 2,596 shares during the last quarter. Tower Bridge Advisors raised its stake in The Coca-Cola by 131.7% in the first quarter. Tower Bridge Advisors now owns 112,295 shares of the company’s stock worth $4,877,000 after buying an additional 63,821 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in The Coca-Cola by 6.2% in the first quarter. Daiwa Securities Group Inc. now owns 221,177 shares of the company’s stock worth $9,606,000 after buying an additional 12,877 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in The Coca-Cola by 38.2% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 613,579 shares of the company’s stock worth $26,467,000 after buying an additional 169,543 shares in the last quarter. Finally, D.B. Root & Company LLC raised its stake in The Coca-Cola by 19.3% in the first quarter. D.B. Root & Company LLC now owns 20,780 shares of the company’s stock worth $902,000 after buying an additional 3,359 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.
In other news, insider John Murphy sold 111,468 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the sale, the insider now owns 196,337 shares in the company, valued at $9,121,817.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the sale, the vice president now owns 200,725 shares in the company, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,822 shares of company stock worth $10,027,727. Corporate insiders own 1.48% of the company’s stock.
Shares of KO opened at $45.38 on Thursday. The stock has a market capitalization of $190.13 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.15. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.62.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. equities analysts predict that The Coca-Cola Co will post 2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is 81.68%.
A number of research firms recently issued reports on KO. Macquarie reissued a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a research note on Wednesday, June 13th. Barclays raised shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Thursday, May 17th. Gabelli reissued a “hold” rating on shares of The Coca-Cola in a research note on Thursday, July 26th. Societe Generale set a $49.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, August 13th. Finally, Jefferies Financial Group reissued a “neutral” rating and issued a $48.00 price target on shares of The Coca-Cola in a research note on Wednesday, August 22nd. Fourteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $50.28.
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 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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