Mitsubishi UFJ Trust & Banking Corp cut its holdings in The Coca-Cola Co (NYSE:KO) by 59.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,597,569 shares of the company’s stock after selling 5,259,384 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of The Coca-Cola worth $166,172,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schulhoff & Co. Inc. lifted its stake in The Coca-Cola by 1.2% during the third quarter. Schulhoff & Co. Inc. now owns 86,940 shares of the company’s stock worth $4,015,000 after purchasing an additional 1,015 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in The Coca-Cola by 6.3% during the third 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. Hayek Kallen Investment Management lifted its stake in The Coca-Cola by 1.3% during the third quarter. Hayek Kallen Investment Management now owns 86,843 shares of the company’s stock worth $3,772,000 after purchasing an additional 1,096 shares in the last quarter. Ascension Asset Management LLC lifted its stake in The Coca-Cola by 5.3% during the second 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. Finally, Country Club Trust Company n.a. lifted its stake in The Coca-Cola by 3.7% during the third 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. Hedge funds and other institutional investors own 65.79% of the company’s stock.
A number of analysts have recently weighed in on KO shares. Zacks Investment Research raised The Coca-Cola from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Morningstar set a $49.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Societe Generale set a $49.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, August 13th. HSBC reaffirmed a “buy” rating and set a $61.00 price objective on shares of The Coca-Cola in a research report on Monday, August 20th. Finally, Morgan Stanley reaffirmed a “neutral” rating and set a $49.00 price objective on shares of The Coca-Cola in a research report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.43.
NYSE:KO opened at $48.98 on Friday. The firm has a market capitalization of $212.06 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 3.26 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 $50.84.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The firm had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The Coca-Cola’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. Analysts predict that The Coca-Cola Co will post 2.08 EPS for the current fiscal year.
The firm also recently announced 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 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
In related news, insider Jennifer K. Mann sold 15,100 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $50.40, for a total value of $761,040.00. Following the transaction, the insider now owns 40,058 shares of the company’s stock, valued at $2,018,923.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the completion of the transaction, the senior vice president now directly owns 28,354 shares in the company, valued at approximately $1,331,220.30. The disclosure for this sale can be found here. Insiders sold 374,542 shares of company stock worth $18,436,957 in the last three months. 1.48% of the stock is currently owned by corporate insiders.
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The Coca-Cola 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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