Nisa Investment Advisors LLC cut its position in shares of The Coca-Cola Co (NYSE:KO) by 6.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,329,720 shares of the company’s stock after selling 94,330 shares during the quarter. Nisa Investment Advisors LLC’s holdings in The Coca-Cola were worth $61,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in KO. Janus Henderson Group PLC grew its stake in The Coca-Cola by 1,117.2% in the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after buying an additional 12,243,387 shares during the last quarter. Capital World Investors grew its position in shares of The Coca-Cola by 8.9% during the 2nd quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after purchasing an additional 11,593,679 shares in the last quarter. Troy Asset Management Ltd acquired a new position in shares of The Coca-Cola during the 3rd quarter worth approximately $260,266,000. Vanguard Group Inc. grew its position in shares of The Coca-Cola by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock worth $12,343,662,000 after purchasing an additional 4,818,963 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of The Coca-Cola by 12,733.6% during the 3rd quarter. Stifel Financial Corp now owns 4,245,213 shares of the company’s stock worth $191,194,000 after purchasing an additional 4,212,134 shares in the last quarter. Institutional investors own 65.34% of the company’s stock.
A number of research analysts have issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $49.00 target price on shares of The Coca-Cola in a research report on Friday, December 22nd. Susquehanna Bancshares set a $45.00 target price on shares of The Coca-Cola and gave the stock a “hold” rating in a research report on Monday, February 12th. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets restated a “hold” rating and set a $48.00 target price on shares of The Coca-Cola in a research report on Friday. Finally, Goldman Sachs Group set a $49.00 target price on shares of The Coca-Cola and gave the stock a “sell” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the stock. The Coca-Cola presently has a consensus rating of “Hold” and a consensus target price of $49.09.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. research analysts forecast that The Coca-Cola Co will post 2.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.39 dividend. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 annualized dividend and a yield of 3.47%. The Coca-Cola’s dividend payout ratio is presently 134.55%.
In related news, insider Ed Hays sold 84,400 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $47.50, for a total value of $4,009,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The disclosure for this sale can be found here. In the last three months, insiders sold 122,640 shares of company stock valued at $5,800,776. 1.51% of the stock is owned by insiders.
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About The Coca-Cola
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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