C WorldWide Group Holding A S decreased its position in The Coca-Cola Co (NYSE:KO) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,639,230 shares of the company’s stock after selling 132,322 shares during the quarter. The Coca-Cola makes up approximately 5.3% of C WorldWide Group Holding A S’s portfolio, making the stock its 10th largest position. C WorldWide Group Holding A S owned about 0.18% of The Coca-Cola worth $415,880,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new position in The Coca-Cola during the second quarter valued at about $25,000. LFA Lugano Financial Advisors SA grew its position in The Coca-Cola by 348.8% during the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock valued at $28,000 after buying an additional 429 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in The Coca-Cola during the second quarter valued at about $36,000. Candriam Luxembourg S.C.A. grew its position in The Coca-Cola by 1.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock valued at $37,000 after buying an additional 6,373 shares during the period. Finally, KCS Wealth Advisory bought a new position in The Coca-Cola during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 67.32% of the company’s stock.
KO has been the subject of several research reports. Credit Suisse Group increased their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Guggenheim set a $59.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank upped their price objective on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. HSBC reaffirmed a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, SunTrust Banks upped their price objective on shares of The Coca-Cola to $60.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola presently has an average rating of “Buy” and an average price target of $55.95.
Shares of The Coca-Cola stock traded down $0.08 on Friday, reaching $52.21. The stock had a trading volume of 7,141,074 shares, compared to its average volume of 13,198,849. The Coca-Cola Co has a 1 year low of $44.42 and a 1 year high of $55.92. The company has a market cap of $224.59 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $53.90 and its two-hundred day moving average is $52.21.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The firm had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.42 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is 76.92%.
In related news, insider Nikolaos Koumettis sold 146,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $54.31, for a total value of $7,929,260.00. Following the sale, the insider now directly owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian John Smith sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the completion of the sale, the chief operating officer now directly owns 174,302 shares in the company, valued at $9,563,950.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 403,026 shares of company stock worth $22,037,406. Insiders own 1.33% of the company’s stock.
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 plant-based 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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