Cohen Lawrence B reduced its position in shares of The Coca-Cola Co (NYSE:KO) by 43.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,218 shares of the company’s stock after selling 4,797 shares during the period. Cohen Lawrence B’s holdings in The Coca-Cola were worth $280,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in The Coca-Cola by 1,117.2% in the second quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock worth $598,273,000 after acquiring an additional 12,243,387 shares during the period. Capital World Investors raised its position in The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after acquiring an additional 11,593,679 shares during the period. Troy Asset Management Ltd bought a new stake in The Coca-Cola in the third quarter worth about $260,266,000. Vanguard Group Inc. raised its position in The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock worth $12,343,662,000 after acquiring an additional 4,818,963 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of The Coca-Cola by 69.6% in the third quarter. Canada Pension Plan Investment Board now owns 9,016,828 shares of the company’s stock worth $405,847,000 after purchasing an additional 3,700,700 shares in the last quarter. 65.30% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Susquehanna Bancshares set a $41.00 target price on shares of The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group set a $45.00 target price on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $46.72 to $51.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.01.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the completion of the transaction, the insider now owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.51% of the stock is currently owned by insiders.
The Coca-Cola Co (KO) opened at $46.15 on Friday. The company has a market cap of $196,630.00, a P/E ratio of 43.95, a P/E/G ratio of 3.75 and a beta of 0.70. The Coca-Cola Co has a 12 month low of $40.22 and a 12 month high of $47.48. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The Coca-Cola’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. equities analysts forecast that The Coca-Cola Co will post 1.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.37 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.48 annualized dividend and a yield of 3.21%. The Coca-Cola’s dividend payout ratio is currently 140.95%.
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The Coca-Cola Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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