Cadence Capital Management LLC lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,245 shares of the company’s stock after acquiring an additional 10,269 shares during the period. Cadence Capital Management LLC’s holdings in The Coca-Cola were worth $12,067,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. grew its position in The Coca-Cola by 6.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 18,354 shares of the company’s stock worth $848,000 after purchasing an additional 1,080 shares in the last quarter. Ascension Asset Management LLC grew its position in The Coca-Cola by 5.3% in the 2nd quarter. Ascension Asset Management LLC now owns 22,050 shares of the company’s stock worth $967,000 after purchasing an additional 1,100 shares in the last quarter. Country Club Trust Company n.a. grew its position in The Coca-Cola by 3.7% in the 3rd quarter. Country Club Trust Company n.a. now owns 30,995 shares of the company’s stock worth $1,432,000 after purchasing an additional 1,100 shares in the last quarter. Jag Capital Management LLC grew its position in The Coca-Cola by 3.3% in the 2nd quarter. Jag Capital Management LLC now owns 34,844 shares of the company’s stock worth $1,528,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC grew its position in The Coca-Cola by 1.7% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock worth $3,111,000 after purchasing an additional 1,172 shares in the last quarter. 65.45% of the stock is owned by institutional investors.
In related news, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total transaction of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,445,107.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ed Hays sold 45,400 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $49.47, for a total transaction of $2,245,938.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,354 shares of company stock worth $8,559,188 over the last 90 days. 1.48% of the stock is currently owned by corporate insiders.
Shares of KO stock opened at $49.68 on Friday. The company has a market cap of $209.50 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The Coca-Cola Co has a 12 month low of $41.45 and a 12 month high of $49.89.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The Coca-Cola’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. As a group, research analysts forecast that The Coca-Cola Co will post 2.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s payout ratio is currently 81.68%.
A number of research firms have recently weighed in on KO. HSBC set a $61.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $48.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. Morgan Stanley set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Guggenheim began coverage on shares of The Coca-Cola in a research report on Thursday, September 13th. They set a “buy” rating and a $51.00 target price for the company. Finally, Bank of America reissued a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.43.
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About The Coca-Cola
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 plantbased 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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