Alps Advisors Inc. cut its stake in The Coca-Cola Co (NYSE:KO) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 980,965 shares of the company’s stock after selling 53,834 shares during the quarter. Alps Advisors Inc.’s holdings in The Coca-Cola were worth $44,153,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in KO. Meeder Asset Management Inc. increased its holdings in shares of The Coca-Cola by 59.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after acquiring an additional 1,026 shares during the period. Eagle Ridge Investment Management purchased a new position in The Coca-Cola during the 2nd quarter worth $138,000. Legacy Advisors LLC purchased a new position in The Coca-Cola during the 3rd quarter worth $139,000. Almanack Investment Partners LLC. purchased a new position in The Coca-Cola during the 2nd quarter worth $142,000. Finally, Perkins Coie Trust Co grew its stake in The Coca-Cola by 21.9% during the 2nd quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after buying an additional 572 shares during the last quarter. Institutional investors and hedge funds own 65.30% of the company’s stock.
Several brokerages recently weighed in on KO. Susquehanna Bancshares set a $41.00 target price on 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 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 The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co upgraded The Coca-Cola from a “market perform” rating to an “outperform” rating and boosted 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 The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.01.
Shares of The Coca-Cola Co (NYSE KO) opened at $46.15 on Friday. 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 firm has a market capitalization of $196,630.00, a PE ratio of 43.95, a price-to-earnings-growth ratio of 3.69 and a beta of 0.70. The Coca-Cola Co has a one year low of $40.22 and a one year high of $47.48.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. equities research analysts forecast that The Coca-Cola Co will post 1.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The Coca-Cola’s dividend payout ratio (DPR) is presently 140.95%.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value 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 approximately $14,749,399.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.51% of the company’s stock.
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About The Coca-Cola
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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