Sequoia Financial Advisors LLC reduced its position in The Coca-Cola Co (NYSE:KO) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,822 shares of the company’s stock after selling 980 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in The Coca-Cola were worth $1,242,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new position in The Coca-Cola in the second quarter valued at about $25,000. LFA Lugano Financial Advisors SA raised its position in The Coca-Cola by 348.8% in the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in The Coca-Cola in the second quarter worth about $36,000. Candriam Luxembourg S.C.A. raised its position in The Coca-Cola by 1.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock worth $37,000 after acquiring an additional 6,373 shares during the period. Finally, Proffitt & Goodson Inc. bought a new stake in The Coca-Cola in the third quarter worth about $44,000. 67.51% of the stock is owned by hedge funds and other institutional investors.
NYSE KO traded up $0.59 during trading hours on Wednesday, reaching $54.45. The stock had a trading volume of 3,841,986 shares, compared to its average volume of 11,054,183. The stock has a fifty day moving average of $54.24 and a 200 day moving average of $51.66. The stock has a market cap of $231.89 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 3.78 and a beta of 0.45. The Coca-Cola Co has a 52-week low of $44.42 and a 52-week high of $55.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.79 and a current ratio of 0.92.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Friday, October 18th. The company reported $0.56 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, equities research analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. The Coca-Cola’s dividend payout ratio is 76.92%.
In other The Coca-Cola news, insider James L. Dinkins sold 45,875 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the transaction, the insider now owns 95,101 shares in the company, valued at $5,065,079.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James L. Dinkins sold 18,389 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $55.00, for a total transaction of $1,011,395.00. Following the transaction, the senior vice president now owns 69,344 shares in the company, valued at approximately $3,813,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,901 shares of company stock valued at $23,187,108. Corporate insiders own 1.33% of the company’s stock.
Several analysts recently commented on KO shares. Bank of America reissued a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Atlantic Securities initiated coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. ValuEngine cut shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley set a $60.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola currently has an average rating of “Buy” and a consensus target price of $55.20.
About The Coca-Cola
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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