Comerica Bank cut its position in The Coca-Cola Co (NYSE:KO) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,244,715 shares of the company’s stock after selling 19,749 shares during the quarter. The Coca-Cola comprises about 0.5% of Comerica Bank’s portfolio, making the stock its 26th biggest holding. Comerica Bank’s holdings in The Coca-Cola were worth $58,999,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC lifted its position in shares of The Coca-Cola by 0.9% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 22,977 shares of the company’s stock valued at $1,061,000 after acquiring an additional 213 shares during the period. Cordasco Financial Network raised its holdings in shares of The Coca-Cola by 26.1% during the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock worth $49,000 after buying an additional 214 shares in the last quarter. Windsor Group LTD raised its holdings in shares of The Coca-Cola by 1.7% during the 4th quarter. Windsor Group LTD now owns 13,672 shares of the company’s stock worth $647,000 after buying an additional 222 shares in the last quarter. United Capital Management of KS Inc. raised its holdings in shares of The Coca-Cola by 2.3% during the 4th quarter. United Capital Management of KS Inc. now owns 10,020 shares of the company’s stock worth $474,000 after buying an additional 229 shares in the last quarter. Finally, We Are One Seven LLC raised its holdings in shares of The Coca-Cola by 3.2% during the 4th quarter. We Are One Seven LLC now owns 7,648 shares of the company’s stock worth $361,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 66.99% of the company’s stock.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $48.50, for a total value of $485,000.00. Following the sale, the senior vice president now owns 92,645 shares in the company, valued at approximately $4,493,282.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the completion of the sale, the insider now owns 92,645 shares in the company, valued at approximately $4,517,370.20. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
KO has been the subject of a number of research analyst reports. Goldman Sachs Group reissued a “neutral” rating and set a $47.00 price target on shares of The Coca-Cola in a report on Thursday, February 14th. Bank of America set a $55.00 price target on The Coca-Cola and gave the stock a “buy” rating in a report on Friday, December 14th. Royal Bank of Canada reissued a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a report on Wednesday, February 13th. Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $50.00 in a report on Thursday, February 14th. Finally, Zacks Investment Research cut The Coca-Cola from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.60.
Shares of KO opened at $45.30 on Friday. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $50.84. The stock has a market capitalization of $193.25 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.10 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.33.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Thursday, February 14th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Co will post 2.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s payout ratio is 75.00%.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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