Aviance Capital Partners LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,949 shares of the company’s stock after selling 10,691 shares during the quarter. Aviance Capital Partners LLC’s holdings in The Coca-Cola were worth $1,083,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of KO. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in The Coca-Cola by 1.2% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 950,917 shares of the company’s stock valued at $42,801,000 after purchasing an additional 11,144 shares during the last quarter. Allen Investment Management LLC raised its position in The Coca-Cola by 1.8% in the 3rd quarter. Allen Investment Management LLC now owns 85,363 shares of the company’s stock valued at $3,842,000 after purchasing an additional 1,534 shares during the last quarter. Kwmg LLC bought a new position in The Coca-Cola in the 3rd quarter valued at $295,000. Kiwi Wealth Investments Limited Partnership increased its stake in shares of The Coca-Cola by 27.4% in the 3rd quarter. Kiwi Wealth Investments Limited Partnership now owns 322,419 shares of the company’s stock valued at $14,512,000 after buying an additional 69,427 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of The Coca-Cola by 5.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,213,862 shares of the company’s stock valued at $279,661,000 after buying an additional 340,342 shares during the period. Hedge funds and other institutional investors own 65.83% of the company’s stock.
In other The Coca-Cola news, insider Jennifer K. Mann sold 1,883 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $45.00, for a total value of $84,735.00. Following the completion of the transaction, the insider now directly owns 98,995 shares of the company’s stock, valued at $4,454,775. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.48% of the stock is owned by insiders.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The business had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. equities research analysts anticipate that The Coca-Cola Company will post 2.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.69%. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
Several equities research analysts have recently commented on the company. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 target price (up from $47.00) on shares of The Coca-Cola in a research note on Friday, February 16th. Jefferies Group reissued a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Tuesday, February 20th. Morgan Stanley reissued a “neutral” rating and issued a $49.00 target price (up from $48.00) on shares of The Coca-Cola in a research note on Monday, February 19th. Societe Generale reissued a “neutral” rating and issued a $48.80 target price on shares of The Coca-Cola in a research note on Monday, February 19th. Finally, Goldman Sachs set a $49.00 target price on The Coca-Cola and gave the company a “sell” rating in a research note on Friday, February 16th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.57.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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