First Republic Investment Management Inc. grew its stake in shares of The Coca-Cola Co (NYSE:KO) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 935,266 shares of the company’s stock after buying an additional 11,204 shares during the period. First Republic Investment Management Inc.’s holdings in The Coca-Cola were worth $43,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in KO. Cognios Capital LLC purchased a new stake in shares of The Coca-Cola in the second quarter valued at $1,014,000. CFO4Life Group LLC purchased a new stake in shares of The Coca-Cola during the second quarter worth $776,000. Exchange Capital Management Inc. raised its holdings in shares of The Coca-Cola by 32.4% during the second quarter. Exchange Capital Management Inc. now owns 5,906 shares of the company’s stock worth $259,000 after acquiring an additional 1,445 shares in the last quarter. Condor Capital Management raised its holdings in shares of The Coca-Cola by 6.9% during the second quarter. Condor Capital Management now owns 86,569 shares of the company’s stock worth $3,797,000 after acquiring an additional 5,575 shares in the last quarter. Finally, NuWave Investment Management LLC raised its holdings in shares of The Coca-Cola by 57.5% during the second quarter. NuWave Investment Management LLC now owns 9,042 shares of the company’s stock worth $397,000 after acquiring an additional 3,302 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
In other The Coca-Cola news, insider Brian John Smith sold 43,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the transaction, the insider now directly owns 123,908 shares in the company, valued at $5,947,584. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer K. Mann sold 15,100 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were 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 in the company, valued at $2,018,923.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,542 shares of company stock worth $18,436,957. Corporate insiders own 1.48% of the company’s stock.
NYSE KO opened at $49.09 on Friday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84. 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 stock has a market cap of $210.65 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.23 and a beta of 0.61.
The Coca-Cola (NYSE:KO) last posted its earnings results 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 company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue was down 9.2% compared to the same quarter last year. 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 issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.18%. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
Several analysts recently issued reports on KO shares. Societe Generale set a $49.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Monday, August 13th. HSBC reiterated a “buy” rating and set a $61.00 price objective on shares of The Coca-Cola in a report on Monday, August 20th. Morgan Stanley reiterated a “neutral” rating and set a $49.00 price objective on shares of The Coca-Cola in a report on Tuesday, August 21st. Jefferies Financial Group reiterated a “neutral” rating and set a $48.00 price objective on shares of The Coca-Cola in a report on Wednesday, August 22nd. Finally, Argus upgraded The Coca-Cola to a “hold” rating in a report on Friday, August 24th. One 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 company has an average rating of “Hold” and a consensus target price 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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