Watch Point Trust Co raised its position in shares of The Coca-Cola Co (NYSE:KO) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 63,461 shares of the company’s stock after buying an additional 1,056 shares during the quarter. Watch Point Trust Co’s holdings in The Coca-Cola were worth $3,455,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nuveen Asset Management LLC raised its holdings in shares of The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock valued at $1,658,966,000 after purchasing an additional 32,243,310 shares during the period. 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 worth $2,126,574,000 after acquiring an additional 5,449,889 shares during the last quarter. 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 worth $15,698,312,000 after acquiring an additional 4,225,080 shares during the last quarter. 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 worth $1,172,359,000 after acquiring an additional 3,984,190 shares during the last quarter. 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 worth $169,662,000 after acquiring an additional 1,664,823 shares during the last quarter. 67.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the completion of the transaction, the insider now directly owns 244,451 shares of the company’s stock, valued at approximately $13,276,133.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lisa Chang bought 500 shares of The Coca-Cola stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, with a total value of $26,620.00. Following the completion of the transaction, the senior vice president now directly owns 5,448 shares in the company, valued at $290,051.52. The disclosure for this purchase can be found here. In the last quarter, insiders sold 403,026 shares of company stock valued at $22,037,406. Company insiders own 1.33% of the company’s stock.
A number of equities research analysts recently weighed in on KO shares. Morgan Stanley restated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a report on Tuesday, October 29th. Deutsche Bank upped their target price on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. set a $59.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Friday, October 18th. Guggenheim set a $59.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola presently has a consensus rating of “Buy” and an average target price of $55.95.
NYSE:KO traded down $0.08 on Friday, hitting $52.21. The stock had a trading volume of 6,997,608 shares, compared to its average volume of 13,198,850. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.79 and a current ratio of 0.92. The stock has a market cap of $224.59 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The Coca-Cola Co has a 1 year low of $44.42 and a 1 year high of $55.92. The firm’s fifty day simple moving average is $53.85 and its two-hundred day simple moving average is $52.23.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Friday, October 18th. The company reported $0.56 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Equities research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 3.06%. The Coca-Cola’s dividend payout ratio (DPR) is 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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