Highbridge Capital Management LLC raised its stake in The Coca-Cola Co (NYSE:KO) by 2,054.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,512 shares of the company’s stock after purchasing an additional 67,812 shares during the quarter. Highbridge Capital Management LLC’s holdings in The Coca-Cola were worth $2,980,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of The Coca-Cola by 0.9% during the third quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock worth $25,871,000 after acquiring an additional 4,973 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of The Coca-Cola by 1.1% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock worth $10,236,000 after acquiring an additional 2,600 shares during the last quarter. First Command Financial Services Inc. increased its position in shares of The Coca-Cola by 73.2% during the third quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock worth $883,000 after acquiring an additional 8,084 shares during the last quarter. HPM Partners LLC increased its position in shares of The Coca-Cola by 3.0% during the second quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock worth $4,399,000 after acquiring an additional 2,931 shares during the last quarter. Finally, Baldwin Investment Management LLC purchased a new stake in shares of The Coca-Cola during the second quarter worth about $272,000. 65.67% of the stock is currently owned by institutional investors.
Shares of The Coca-Cola stock opened at $49.09 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 stock has a market capitalization of $210.65 billion, a P/E ratio of 25.70, a PEG ratio of 3.23 and a beta of 0.61. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $8.20 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The Coca-Cola’s quarterly revenue was down 9.2% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business 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 $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a yield of 3.18%. The Coca-Cola’s payout ratio is currently 81.68%.
In other The Coca-Cola news, insider Jennifer K. Mann sold 15,100 shares of The Coca-Cola stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 40,058 shares in the company, valued at $2,018,923.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction that occurred 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 owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,542 shares of company stock valued at $18,436,957. 1.48% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on KO shares. Societe Generale set a $49.00 target price 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 target price on shares of The Coca-Cola in a research report on Monday, August 20th. Morgan Stanley reaffirmed a “neutral” rating and set a $49.00 target price on shares of The Coca-Cola in a research report on Tuesday, August 21st. Jefferies Financial Group reaffirmed a “neutral” rating and set a $48.00 target price on shares of The Coca-Cola in a research report on Wednesday, August 22nd. Finally, Argus raised The Coca-Cola to a “hold” rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The Coca-Cola presently 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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