Montag & Caldwell LLC lowered its stake in The Coca-Cola Co (NYSE:KO) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,770 shares of the company’s stock after selling 4,500 shares during the quarter. Montag & Caldwell LLC’s holdings in The Coca-Cola were worth $396,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in The Coca-Cola in the 4th quarter valued at about $1,717,527,000. FMR LLC lifted its holdings in The Coca-Cola by 22.2% in the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares during the last quarter. Geode Capital Management LLC lifted its holdings in The Coca-Cola by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after acquiring an additional 4,528,987 shares during the last quarter. Avalon Advisors LLC lifted its holdings in The Coca-Cola by 203.4% in the 4th quarter. Avalon Advisors LLC now owns 3,018,294 shares of the company’s stock valued at $142,916,000 after acquiring an additional 2,023,309 shares during the last quarter. Finally, Ronna Sue Cohen lifted its holdings in The Coca-Cola by 4,409.4% in the 1st quarter. Ronna Sue Cohen now owns 1,992,242 shares of the company’s stock valued at $1,992,000 after acquiring an additional 1,948,062 shares during the last quarter. 66.69% of the stock is owned by institutional investors and hedge funds.
In related news, insider Francisco Crespo sold 125,948 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the transaction, the insider now owns 186,631 shares in the company, valued at $9,331,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total value of $1,519,687.64. Following the completion of the transaction, the senior vice president now owns 57,538 shares in the company, valued at approximately $2,875,173.86. The disclosure for this sale can be found here. Insiders sold a total of 318,761 shares of company stock worth $16,182,125 in the last quarter. 1.33% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on KO shares. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, June 4th. HSBC reaffirmed a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Deutsche Bank upped their price objective on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The Coca-Cola has a consensus rating of “Buy” and an average target price of $54.10.
Shares of KO traded up $0.93 during trading hours on Thursday, reaching $53.92. The company’s stock had a trading volume of 658,925 shares, compared to its average volume of 14,180,490. The company has a market cap of $227.40 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48. The Coca-Cola Co has a 1-year low of $44.25 and a 1-year high of $54.82. 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 firm has a 50 day moving average of $52.43.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. Equities research analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. The Coca-Cola’s dividend payout ratio is 76.92%.
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 plantbased 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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