Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Holdings in The Coca-Cola Co (KO)

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Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of The Coca-Cola Co (NYSE:KO) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 140,696 shares of the company’s stock after selling 5,956 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in The Coca-Cola were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Morgan Stanley boosted its holdings in The Coca-Cola by 3.6% in the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after buying an additional 1,336,852 shares during the period. Janus Henderson Group PLC boosted its holdings in The Coca-Cola by 1.9% in the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after buying an additional 299,933 shares during the period. Swiss National Bank boosted its holdings in The Coca-Cola by 2.8% in the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after buying an additional 425,900 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in The Coca-Cola by 2.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,397,678 shares of the company’s stock worth $631,483,000 after buying an additional 401,752 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in The Coca-Cola by 7.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,119,142 shares of the company’s stock worth $575,406,000 after buying an additional 949,483 shares during the period. Institutional investors and hedge funds own 65.45% of the company’s stock.

Shares of NYSE:KO opened at $48.00 on Monday. The company has a market cap of $204.76 billion, a PE ratio of 25.13, a P/E/G ratio of 3.14 and a beta of 0.60. The Coca-Cola Co has a one year low of $41.45 and a one year high of $48.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06.

The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Sell-side analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.

In other news, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total transaction of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares in the company, valued at $1,331,220.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total transaction of $479,800.00. Following the transaction, the senior vice president now owns 92,645 shares in the company, valued at $4,445,107.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,754 shares of company stock worth $2,954,800. Corporate insiders own 1.48% of the company’s stock.

Several research analysts have commented on the stock. Macquarie reissued a “neutral” rating and set a $50.00 price objective on shares of The Coca-Cola in a report on Thursday. Jefferies Financial Group upped their target price on shares of The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. HSBC restated a “buy” rating and set a $64.00 target price on shares of The Coca-Cola in a research report on Wednesday, October 31st. Morgan Stanley upped their target price on shares of The Coca-Cola from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, October 31st. Finally, Deutsche Bank upped their target price on shares of The Coca-Cola from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. The Coca-Cola currently has an average rating of “Hold” and a consensus target price of $51.22.

The Coca-Cola Profile

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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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