Bank of The West raised its holdings in shares of The Coca-Cola Co (NYSE:KO) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,651 shares of the company’s stock after purchasing an additional 5,797 shares during the quarter. Bank of The West’s holdings in The Coca-Cola were worth $2,801,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. WP Advisors LLC purchased a new position in The Coca-Cola in the second quarter valued at about $107,000. Westbourne Investment Advisors Inc. purchased a new position in The Coca-Cola in the third quarter valued at about $117,000. Signature Estate & Investment Advisors LLC purchased a new position in The Coca-Cola in the second quarter valued at about $116,000. Fort L.P. purchased a new position in The Coca-Cola in the second quarter valued at about $122,000. Finally, Sageworth Trust Co grew its stake in The Coca-Cola by 69.5% in the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 65.45% of the company’s stock.
Shares of KO stock opened at $49.68 on Friday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $49.89. The stock has a market cap of $209.50 billion, a PE 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 (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. Sell-side analysts predict 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. Stockholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.14%. The Coca-Cola’s payout ratio is 81.68%.
In related news, insider Ed Hays sold 45,400 shares of The Coca-Cola stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Francisco Crespo sold 54,200 shares of The Coca-Cola stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $48.50, for a total value 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. Insiders have sold 176,354 shares of company stock valued at $8,559,188 in the last ninety days. Corporate insiders own 1.48% of the company’s stock.
Several research firms have issued reports on KO. Citigroup set a $56.00 target price on The Coca-Cola and gave the company a “buy” rating in a research note on Friday. Macquarie set a $50.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday. Morningstar set a $49.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 31st. Finally, HSBC reiterated a “buy” rating and issued a $64.00 target price on shares of The Coca-Cola in a research note on Wednesday, October 31st. One 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 company’s stock. The stock currently has an average rating of “Hold” and an average price target of $51.43.
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The Coca-Cola Company 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 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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