Heritage Investors Management Corp cut its stake in The Coca-Cola Co (NYSE:KO) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 334,857 shares of the company’s stock after selling 1,722 shares during the period. Heritage Investors Management Corp’s holdings in The Coca-Cola were worth $15,072,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in The Coca-Cola by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after acquiring an additional 1,026 shares during the period. Almanack Investment Partners LLC. purchased a new stake in The Coca-Cola in the second quarter worth about $142,000. Perkins Coie Trust Co lifted its stake in The Coca-Cola by 21.9% in the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after acquiring an additional 572 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of The Coca-Cola by 8.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock valued at $141,000 after buying an additional 264 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in shares of The Coca-Cola during the second quarter valued at about $156,000. Hedge funds and other institutional investors own 65.30% of the company’s stock.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.51% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The Coca-Cola’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. research analysts anticipate that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s payout ratio is currently 140.95%.
Several analysts have commented on KO shares. Vetr raised shares of The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Royal Bank of Canada set a $49.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Sunday, November 12th. Goldman Sachs Group set a $45.00 price target on shares of The Coca-Cola and gave the company a “sell” rating in a research report on Wednesday, November 15th. Jefferies Group set a $47.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Friday, October 13th. Finally, Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.47.
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The Coca-Cola 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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