First Hawaiian Bank Lowers Position in The Coca-Cola Co (KO)

First Hawaiian Bank trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 12.7% during the fourth quarter, Holdings Channel reports. The fund owned 33,885 shares of the company’s stock after selling 4,941 shares during the period. First Hawaiian Bank’s holdings in The Coca-Cola were worth $1,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Vanguard Group Inc. boosted its position in shares of The Coca-Cola by 1.4% in the third quarter. Vanguard Group Inc. now owns 289,055,893 shares of the company’s stock worth $13,351,492,000 after acquiring an additional 3,918,108 shares during the last quarter. Vanguard Group Inc boosted its position in shares of The Coca-Cola by 1.4% in the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock worth $13,351,492,000 after acquiring an additional 3,918,108 shares during the last quarter. Capital International Investors boosted its position in shares of The Coca-Cola by 81.9% in the third quarter. Capital International Investors now owns 63,196,570 shares of the company’s stock worth $2,919,050,000 after acquiring an additional 28,445,747 shares during the last quarter. FMR LLC boosted its position in shares of The Coca-Cola by 2.3% in the third quarter. FMR LLC now owns 50,012,668 shares of the company’s stock worth $2,310,085,000 after acquiring an additional 1,116,190 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of The Coca-Cola by 3.6% in the second quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after acquiring an additional 1,336,852 shares during the last quarter. 65.53% of the stock is currently owned by hedge funds and other institutional investors.

KO opened at $47.34 on Friday. The company has a market cap of $198.66 billion, a PE ratio of 24.79, a PEG ratio of 2.85 and a beta of 0.62. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $50.84. 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 (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company 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 business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Equities research analysts predict that The Coca-Cola Co will post 2.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.30%. The Coca-Cola’s dividend payout ratio is currently 81.68%.

Several research firms recently issued reports on KO. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a research report on Monday, November 19th. Macquarie reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research report on Tuesday, December 4th. Citigroup set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Friday, November 9th. Bank of America set a $55.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a report on Friday, December 14th. Finally, UBS Group restated a “neutral” rating and issued a $51.00 price target (up previously from $50.00) on shares of The Coca-Cola in a report on Thursday, December 13th. Fourteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The Coca-Cola has a consensus rating of “Hold” and a consensus target price of $51.78.

In other news, VP Kathy N. Waller sold 88,400 shares of The Coca-Cola stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $50.00, for a total transaction of $4,420,000.00. Following the sale, the vice president now owns 256,421 shares in the company, valued at $12,821,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $48.65, for a total transaction of $729,750.00. Following the sale, the insider now owns 68,029 shares in the company, valued at approximately $3,309,610.85. The disclosure for this sale can be found here. Insiders have sold 374,542 shares of company stock worth $18,436,957 in the last quarter. Insiders own 1.48% of the company’s stock.

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About The Coca-Cola

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 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.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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