Connors Investor Services Inc. raised its stake in The Coca-Cola Co (NYSE:KO) by 43.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,696 shares of the company’s stock after buying an additional 30,730 shares during the period. Connors Investor Services Inc.’s holdings in The Coca-Cola were worth $4,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of The Coca-Cola by 2.3% during the 3rd quarter. FMR LLC now owns 50,012,668 shares of the company’s stock worth $2,310,085,000 after acquiring an additional 1,116,190 shares in the last quarter. Morgan Stanley raised its stake in shares of The Coca-Cola by 3.6% during the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after acquiring an additional 1,336,852 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of The Coca-Cola by 2.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 20,151,122 shares of the company’s stock worth $930,781,000 after acquiring an additional 426,083 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of The Coca-Cola by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after acquiring an additional 299,933 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of The Coca-Cola by 2.8% during the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after acquiring an additional 425,900 shares in the last quarter. 65.67% of the stock is owned by institutional investors.
KO has been the subject of several recent analyst reports. Citigroup set a $56.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, November 9th. Morgan Stanley set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, October 15th. Macquarie set a $47.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Friday, September 14th. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, November 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $48.00 price objective on shares of The Coca-Cola in a research note on Friday, August 31st. One research 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 company presently has an average rating of “Hold” and an average price target of $51.43.
Shares of NYSE KO opened at $49.09 on Friday. The Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $50.84. The firm has a market cap of $210.65 billion, a P/E ratio of 24.09, a PEG ratio of 3.23 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Co will post 2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is presently 81.68%.
In other The Coca-Cola news, VP Kathy N. Waller sold 88,400 shares of the company’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $50.00, for a total transaction of $4,420,000.00. Following the completion of the transaction, the vice president now directly owns 256,421 shares in the company, valued at $12,821,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry M. Mark sold 75,538 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $49.51, for a total transaction of $3,739,886.38. Following the transaction, the vice president now owns 85,755 shares of the company’s stock, valued at $4,245,730.05. The disclosure for this sale can be found here. Insiders have sold 374,542 shares of company stock valued at $18,436,957 over the last 90 days. 1.48% of the stock is currently owned by company insiders.
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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