OLD Point Trust & Financial Services N A decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,322 shares of the company’s stock after selling 5,345 shares during the period. OLD Point Trust & Financial Services N A’s holdings in The Coca-Cola were worth $1,908,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. C WorldWide Group Holding A S increased its holdings in shares of The Coca-Cola by 873.0% during the second quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after buying an additional 6,846,641 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of The Coca-Cola during the second quarter worth approximately $206,654,000. Natixis increased its holdings in shares of The Coca-Cola by 218.3% during the second quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after buying an additional 2,798,257 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of The Coca-Cola by 47.4% during the third quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after buying an additional 1,907,604 shares in the last quarter. Finally, Unigestion Holding SA acquired a new stake in shares of The Coca-Cola during the second quarter worth approximately $78,078,000. Hedge funds and other institutional investors own 65.45% of the company’s stock.
Shares of The Coca-Cola stock opened at $49.68 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98. The company has a market capitalization of $210.61 billion, a P/E ratio of 24.08, a P/E/G ratio of 3.23 and a beta of 0.60. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $49.89.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates 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 for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. Equities analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.39 dividend. 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 dividend payout ratio is currently 81.68%.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction 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 completion of the sale, the senior vice president now owns 92,645 shares of the company’s stock, valued at approximately $4,445,107.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Francisco Crespo sold 54,200 shares of The Coca-Cola stock in a transaction on Monday, November 5th. The stock was sold at an average price of $48.50, for a total transaction of $2,628,700.00. Following the sale, the senior vice president now directly owns 96,026 shares of the company’s stock, valued at approximately $4,657,261. The disclosure for this sale can be found here. In the last three months, insiders sold 176,354 shares of company stock valued at $8,559,188. 1.48% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on KO. Citigroup set a $56.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Friday. Macquarie set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of The Coca-Cola from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 31st. Finally, HSBC reaffirmed a “buy” rating and set a $64.00 price objective on shares of The Coca-Cola in a report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average 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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