Creative Planning lifted its position in shares of The Coca-Cola Co (NYSE:KO) by 16.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 589,668 shares of the company’s stock after buying an additional 82,842 shares during the quarter. Creative Planning’s holdings in The Coca-Cola were worth $27,632,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Mraz Amerine & Associates Inc. grew its holdings in The Coca-Cola by 0.4% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock valued at $2,252,000 after purchasing an additional 208 shares during the period. Paulson Wealth Management Inc. boosted its stake in shares of The Coca-Cola by 3.2% in the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock worth $310,000 after acquiring an additional 208 shares during the last quarter. OmniStar Financial Group Inc. lifted its position in The Coca-Cola by 1.3% during the first quarter. OmniStar Financial Group Inc. now owns 17,021 shares of the company’s stock worth $798,000 after buying an additional 216 shares in the last quarter. Chessman Wealth Strategies RIA lifted its position in The Coca-Cola by 1.3% during the first quarter. Chessman Wealth Strategies RIA now owns 17,483 shares of the company’s stock worth $819,000 after buying an additional 230 shares in the last quarter. Finally, Wagner Bowman Management Corp lifted its position in The Coca-Cola by 0.7% during the first quarter. Wagner Bowman Management Corp now owns 31,041 shares of the company’s stock worth $1,454,000 after buying an additional 230 shares in the last quarter. 66.83% of the stock is currently owned by institutional investors.
A number of research firms have commented on KO. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, June 4th. Royal Bank of Canada reissued a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a research note on Wednesday, February 13th. Barclays set a $54.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a research report on Tuesday, April 23rd. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $51.05.
In other The Coca-Cola news, insider Francisco Crespo sold 16,426 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the sale, the insider now directly owns 77,109 shares in the company, valued at $3,778,341. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert Edward Long sold 30,412 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the sale, the senior vice president now owns 57,538 shares in the company, valued at $2,875,173.86. The disclosure for this sale can be found here. Insiders have sold 316,600 shares of company stock worth $15,760,365 over the last three months. 1.33% of the stock is owned by insiders.
Shares of KO opened at $51.64 on Thursday. The stock has a market cap of $219.66 billion, a PE ratio of 24.83, a P/E/G ratio of 3.46 and a beta of 0.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.02 and a quick ratio of 0.91. The Coca-Cola Co has a 52 week low of $42.96 and a 52 week high of $52.19.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.89 billion. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. Equities analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.10%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
The Coca-Cola Company 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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