Sequoia Financial Advisors LLC trimmed its position in shares of Coca-Cola Co (The) (NYSE:KO) by 3.9% during the 1st quarter, Holdings Channel reports. The fund owned 19,542 shares of the company’s stock after selling 799 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coca-Cola were worth $865,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. PrairieView Partners LLC purchased a new stake in shares of Coca-Cola during the 1st quarter worth approximately $27,000. Pearl River Capital LLC purchased a new stake in shares of Coca-Cola during the 1st quarter worth approximately $30,000. Stonebridge Financial Planning Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. HighMark Wealth Management LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $44,000. Finally, Danda Trouve Investment Management Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $54,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Lisa Chang acquired 1,650 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $46.74 per share, with a total value of $77,121.00. Following the completion of the transaction, the senior vice president now directly owns 5,826 shares in the company, valued at $272,307.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 66,673 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $59.08, for a total value of $3,939,040.84. Following the sale, the chief executive officer now directly owns 467,407 shares in the company, valued at approximately $27,614,405.56. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on the company. SunTrust Banks restated an “outperform” rating and set a $65.00 price target on shares of Coca-Cola in a report on Friday, January 31st. They noted that the move was a valuation call. Jefferies Financial Group decreased their price target on Coca-Cola from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Cfra decreased their price target on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 21st. Argus upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, March 27th. Finally, Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $48.00 price target on the stock. in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Coca-Cola has an average rating of “Buy” and an average price target of $54.55.
Shares of KO traded down $0.14 during midday trading on Friday, reaching $45.03. 13,007,667 shares of the stock were exchanged, compared to its average volume of 17,496,358. Coca-Cola Co has a 52 week low of $36.27 and a 52 week high of $60.13. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 1.57. The company’s 50 day moving average is $45.85 and its two-hundred day moving average is $51.99. The company has a market capitalization of $194.00 billion, a P/E ratio of 19.41, a PEG ratio of 5.01 and a beta of 0.56.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Coca-Cola Co will post 1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, June 12th. Coca-Cola’s payout ratio is 77.73%.
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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