Gamco Investors INC. ET AL cut its stake in The Coca-Cola Co (NYSE:KO) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,089,311 shares of the company’s stock after selling 35,680 shares during the period. Gamco Investors INC. ET AL’s holdings in The Coca-Cola were worth $45,163,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. raised its position in The Coca-Cola by 18.7% in the second quarter. Macquarie Group Ltd. now owns 227,623 shares of the company’s stock valued at $10,319,000 after buying an additional 35,860 shares during the last quarter. Washington Trust Bank raised its position in The Coca-Cola by 5.8% in the third quarter. Washington Trust Bank now owns 11,157 shares of the company’s stock valued at $472,000 after buying an additional 609 shares during the last quarter. Eqis Capital Management Inc. raised its position in The Coca-Cola by 17.6% in the third quarter. Eqis Capital Management Inc. now owns 16,984 shares of the company’s stock valued at $719,000 after buying an additional 2,546 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in The Coca-Cola by 9.8% in the third quarter. BNP Paribas Arbitrage SA now owns 2,305,529 shares of the company’s stock valued at $97,570,000 after buying an additional 206,259 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in The Coca-Cola by 4.6% in the third quarter. Fulton Bank N.A. now owns 95,741 shares of the company’s stock valued at $4,051,000 after buying an additional 4,208 shares during the last quarter. Institutional investors and hedge funds own 63.88% of the company’s stock.
Shares of The Coca-Cola Co (NYSE:KO) opened at 42.18 on Tuesday. The Coca-Cola Co has a 52-week low of $39.88 and a 52-week high of $47.13. The company has a market cap of $181.10 billion, a P/E ratio of 28.31 and a beta of 0.69. The firm has a 50-day moving average of $41.66 and a 200-day moving average of $41.79.
The Coca-Cola (NYSE:KO) last issued its earnings results on Thursday, February 9th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. The Coca-Cola had a net margin of 15.59% and a return on equity of 32.94%. The firm earned $9.40 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Co will post $1.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, March 13th. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.35. The Coca-Cola’s dividend payout ratio (DPR) is 93.33%.
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Several equities analysts have recently issued reports on KO shares. Vetr lowered shares of The Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.50 target price for the company. in a report on Monday, November 28th. Morningstar, Inc. restated a “buy” rating on shares of The Coca-Cola in a report on Friday, December 9th. Deutsche Bank AG lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $44.00 in a report on Tuesday, December 13th. They noted that the move was a valuation call. Morgan Stanley lowered shares of The Coca-Cola from an “overweight” rating to an “equal weight” rating in a report on Friday, December 16th. Finally, Jefferies Group LLC set a $43.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Wednesday, December 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. The Coca-Cola has an average rating of “Hold” and a consensus price target of $43.85.
The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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