LSV Asset Management reduced its holdings in The Coca-Cola Co (NYSE:KO) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,300 shares of the company’s stock after selling 2,500 shares during the period. LSV Asset Management’s holdings in The Coca-Cola were worth $1,436,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in KO. Beach Investment Management LLC. purchased a new stake in The Coca-Cola in the 2nd quarter worth about $736,000. Jennison Associates LLC purchased a new stake in The Coca-Cola in the 2nd quarter worth about $14,154,000. Marshall Wace LLP purchased a new stake in The Coca-Cola in the 2nd quarter worth about $16,314,000. Pax World Management LLC lifted its stake in The Coca-Cola by 10.8% in the 2nd quarter. Pax World Management LLC now owns 31,835 shares of the company’s stock worth $1,428,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas lifted its stake in The Coca-Cola by 0.8% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 526,479 shares of the company’s stock worth $23,613,000 after acquiring an additional 4,426 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on KO. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective (up from $47.00) on shares of The Coca-Cola in a research note on Friday, February 16th. Goldman Sachs Group set a $45.00 price objective on The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Susquehanna Bancshares set a $45.00 price target on The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Jefferies Group reaffirmed a “neutral” rating and set a $49.00 price target on shares of The Coca-Cola in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.21.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Friday, February 16th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. analysts expect that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.39 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.50%. The Coca-Cola’s dividend payout ratio is currently 134.55%.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value of $1,072,526.00. Following the sale, the chief financial officer now owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $45.00, for a total value of $84,735.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,523 shares of company stock worth $5,885,511. 1.48% of the stock is currently owned by insiders.
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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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