Investec Asset Management LTD cut its stake in The Coca-Cola Co (NYSE:KO) by 34.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,003 shares of the company’s stock after selling 176,670 shares during the quarter. Investec Asset Management LTD’s holdings in The Coca-Cola were worth $14,825,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. D.B. Root & Company LLC boosted its holdings in The Coca-Cola by 19.3% during the first quarter. D.B. Root & Company LLC now owns 20,780 shares of the company’s stock valued at $902,000 after purchasing an additional 3,359 shares in the last quarter. Thomaspartners Inc. boosted its holdings in The Coca-Cola by 5.2% during the first quarter. Thomaspartners Inc. now owns 4,585,648 shares of the company’s stock valued at $199,155,000 after purchasing an additional 228,180 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in The Coca-Cola by 39.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 25,547 shares of the company’s stock valued at $1,110,000 after purchasing an additional 7,203 shares in the last quarter. WealthTrust Axiom LLC boosted its holdings in The Coca-Cola by 95.4% during the first quarter. WealthTrust Axiom LLC now owns 13,108 shares of the company’s stock valued at $569,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC boosted its holdings in The Coca-Cola by 1.4% during the first quarter. Wealthstreet Investment Advisors LLC now owns 167,602 shares of the company’s stock valued at $7,279,000 after purchasing an additional 2,290 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.
Several research analysts have recently commented on KO shares. JPMorgan Chase & Co. reissued a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Wednesday, July 18th. TheStreet raised The Coca-Cola from a “c+” rating to a “b-” rating in a report on Tuesday, July 17th. Morningstar set a $49.00 target price on The Coca-Cola and gave the stock a “buy” rating in a report on Friday, May 18th. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Citigroup reissued a “buy” rating on shares of The Coca-Cola in a report on Thursday, May 17th. Fourteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.28.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 200,725 shares in the company, valued at approximately $9,323,676.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Murphy sold 111,468 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $9,121,817.02. The disclosure for this sale can be found here. Insiders sold a total of 215,822 shares of company stock valued at $10,027,727 in the last 90 days. 1.48% of the stock is currently owned by corporate insiders.
KO stock opened at $45.77 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.62. The company has a market capitalization of $193.59 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.80 and a beta of 0.74.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the 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 firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The Coca-Cola’s revenue was down 8.3% on a year-over-year basis. sell-side analysts forecast that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
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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