Starfire Investment Advisers Inc. lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 19.9% during the third quarter, HoldingsChannel reports. The firm owned 6,879 shares of the company’s stock after purchasing an additional 1,143 shares during the quarter. Starfire Investment Advisers Inc.’s holdings in The Coca-Cola were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FCA Corp TX bought a new stake in shares of The Coca-Cola during the 2nd quarter worth $211,000. Davy Asset Management Ltd bought a new stake in The Coca-Cola in the 2nd quarter valued at about $891,000. Curbstone Financial Management Corp raised its stake in The Coca-Cola by 6.0% in the 2nd quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,170 shares during the period. L & S Advisors Inc raised its stake in The Coca-Cola by 283.6% in the 2nd quarter. L & S Advisors Inc now owns 63,072 shares of the company’s stock valued at $3,212,000 after acquiring an additional 46,632 shares during the period. Finally, Marathon Capital Management raised its stake in The Coca-Cola by 7.0% in the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after acquiring an additional 712 shares during the period. Institutional investors own 67.52% of the company’s stock.
A number of brokerages recently issued reports on KO. Morgan Stanley set a $60.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Deutsche Bank boosted their price objective on The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Credit Suisse Group boosted their price objective on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Bank of America restated a “buy” rating and issued a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Atlantic Securities began coverage on The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $54.26.
Shares of NYSE KO traded up $0.07 during midday trading on Tuesday, hitting $53.37. 1,274,581 shares of the company’s stock were exchanged, compared to its average volume of 10,788,380. The Coca-Cola Co has a 12-month low of $44.42 and a 12-month high of $55.92. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The company has a market cap of $227.91 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 3.71 and a beta of 0.45. The business’s fifty day moving average price is $54.34 and its two-hundred day moving average price is $51.36.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The Coca-Cola’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.
In other news, COO Brian John Smith sold 60,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the completion of the transaction, the chief operating officer now owns 174,302 shares of the company’s stock, valued at $9,563,950.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer K. Mann sold 9,126 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the transaction, the insider now directly owns 41,175 shares of the company’s stock, valued at approximately $2,202,039. The disclosure for this sale can be found here. Insiders have sold 429,638 shares of company stock valued at $23,411,372 in the last three months. 1.33% of the stock is owned by insiders.
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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