We Are One Seven LLC cut its holdings in shares of The Coca-Cola Co (NYSE:KO) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,161 shares of the company’s stock after selling 849 shares during the quarter. We Are One Seven LLC’s holdings in The Coca-Cola were worth $444,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of KO. Nuveen Asset Management LLC lifted its position in The Coca-Cola by 9,580.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after buying an additional 32,243,310 shares in the last quarter. Morgan Stanley raised its holdings in shares of The Coca-Cola by 15.0% in the 2nd quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock valued at $2,126,574,000 after purchasing an additional 5,449,889 shares during the period. Vanguard Group Inc. raised its holdings in shares of The Coca-Cola by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock valued at $15,698,312,000 after purchasing an additional 4,225,080 shares during the period. California Public Employees Retirement System raised its holdings in shares of The Coca-Cola by 20.9% in the 2nd quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock valued at $1,172,359,000 after purchasing an additional 3,984,190 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of The Coca-Cola by 5,235.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,696,625 shares of the company’s stock valued at $169,662,000 after purchasing an additional 1,664,823 shares during the period. 67.48% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Francisco Crespo sold 130,637 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $55.15, for a total value of $7,204,630.55. Following the transaction, the senior vice president now owns 139,975 shares in the company, valued at approximately $7,719,621.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total transaction of $747,600.00. Following the transaction, the senior vice president now owns 108,457 shares in the company, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 429,638 shares of company stock worth $23,411,372. 1.33% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. HSBC reaffirmed a “neutral” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, Morgan Stanley set a $60.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.26.
Shares of KO opened at $53.30 on Friday. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $55.92. The firm has a market cap of $230.18 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 3.74 and a beta of 0.45. The firm’s 50-day simple moving average is $54.38 and its 200 day simple moving average is $51.26. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The Coca-Cola’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
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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