Gabelli Funds LLC lessened its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 693,600 shares of the company’s stock after selling 3,400 shares during the quarter. Gabelli Funds LLC’s holdings in The Coca-Cola were worth $32,037,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bbva Compass Bancshares Inc. grew its position in shares of The Coca-Cola by 2.1% in the third quarter. Bbva Compass Bancshares Inc. now owns 234,742 shares of the company’s stock valued at $10,842,000 after purchasing an additional 4,858 shares during the last quarter. HL Financial Services LLC grew its position in shares of The Coca-Cola by 12.7% in the third quarter. HL Financial Services LLC now owns 673,139 shares of the company’s stock valued at $31,092,000 after purchasing an additional 75,638 shares during the last quarter. Hollencrest Capital Management grew its position in shares of The Coca-Cola by 2.8% in the third quarter. Hollencrest Capital Management now owns 64,627 shares of the company’s stock valued at $2,985,000 after purchasing an additional 1,755 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of The Coca-Cola by 3.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 408,228 shares of the company’s stock valued at $18,856,000 after purchasing an additional 13,531 shares during the last quarter. Finally, Usca Ria LLC grew its position in shares of The Coca-Cola by 4.5% in the third quarter. Usca Ria LLC now owns 64,002 shares of the company’s stock valued at $2,956,000 after purchasing an additional 2,769 shares during the last quarter. 65.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KO 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 Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $49.89. 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 (NYSE:KO) last released its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s payout ratio is presently 81.68%.
In other The Coca-Cola news, insider Ed Hays sold 45,400 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian John Smith sold 43,000 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total value of $2,064,000.00. Following the sale, the insider now owns 123,908 shares of the company’s stock, valued at $5,947,584. The disclosure for this sale can be found here. Insiders have sold 176,354 shares of company stock valued at $8,559,188 over the last 90 days. Corporate insiders own 1.48% of the company’s stock.
KO has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 18th. TheStreet raised The Coca-Cola from a “c+” rating to a “b-” rating in a research report on Tuesday, July 17th. HSBC reiterated a “buy” rating and issued a $61.00 price target on shares of The Coca-Cola in a research note on Monday, August 20th. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, SunTrust Banks boosted their price target on The Coca-Cola to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. 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 stock. The stock currently has an average rating of “Hold” and an average price target 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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