FineMark National Bank & Trust trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 4.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 181,755 shares of the company’s stock after selling 8,571 shares during the quarter. FineMark National Bank & Trust’s holdings in The Coca-Cola were worth $8,395,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in KO. C WorldWide Group Holding A S lifted its stake in shares of The Coca-Cola by 873.0% in the second quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock valued at $334,692,000 after buying an additional 6,846,641 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in shares of The Coca-Cola in the second quarter valued at $206,654,000. Natixis lifted its position in shares of The Coca-Cola by 218.3% during the second quarter. Natixis now owns 4,080,146 shares of the company’s stock valued at $178,955,000 after purchasing an additional 2,798,257 shares in the last quarter. Bank of Montreal Can lifted its position in shares of The Coca-Cola by 47.4% during the third quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock valued at $274,099,000 after purchasing an additional 1,907,604 shares in the last quarter. Finally, Unigestion Holding SA bought a new position in shares of The Coca-Cola during the second quarter valued at about $78,078,000. 65.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on KO. Citigroup set a $56.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Friday. Macquarie set a $50.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday. Morningstar set a $49.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Tuesday, November 6th. Jefferies Financial Group raised their price target 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. Finally, HSBC reissued a “buy” rating and set a $64.00 price target on shares of The Coca-Cola in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $51.43.
Shares of KO stock opened at $49.68 on Friday. The stock has a market capitalization of $210.44 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.23 and a beta of 0.60. 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 Co has a 52 week low of $41.45 and a 52 week high of $49.89.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the 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 revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Research analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is 81.68%.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total value of $479,800.00. Following the sale, the senior vice president now owns 92,645 shares of the company’s stock, valued at $4,445,107.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the sale, the senior vice president now directly owns 28,354 shares in the company, valued at approximately $1,331,220.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,354 shares of company stock worth $8,559,188. Insiders own 1.48% of the company’s stock.
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The Coca-Cola Company 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 plantbased 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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