Haverford Trust Co. lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,702,195 shares of the company’s stock after purchasing an additional 13,098 shares during the quarter. The Coca-Cola comprises about 1.6% of Haverford Trust Co.’s investment portfolio, making the stock its 21st biggest position. Haverford Trust Co.’s holdings in The Coca-Cola were worth $92,667,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of KO. Vanguard Group Inc. boosted its holdings in The Coca-Cola by 1.4% in the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock valued at $15,698,312,000 after acquiring an additional 4,225,080 shares during the last quarter. Northern Trust Corp boosted its holdings in The Coca-Cola by 1.1% in the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock valued at $2,652,743,000 after acquiring an additional 589,927 shares during the last quarter. Morgan Stanley boosted its holdings in The Coca-Cola by 15.0% in the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock valued at $2,126,574,000 after acquiring an additional 5,449,889 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in The Coca-Cola by 9,580.7% in the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock valued at $1,658,966,000 after acquiring an additional 32,243,310 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in The Coca-Cola by 6.1% in the third quarter. California Public Employees Retirement System now owns 24,437,038 shares of the company’s stock valued at $1,330,352,000 after acquiring an additional 1,413,482 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.
A number of research analysts have commented on the company. HSBC restated a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Atlantic Securities assumed coverage on The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 price objective on the stock. BMO Capital Markets boosted their price objective on The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Bank of America restated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, SunTrust Banks boosted their price objective on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.95.
Shares of NYSE KO traded down $0.08 during midday trading on Friday, reaching $52.21. 7,141,086 shares of the company’s stock were exchanged, compared to its average volume of 11,144,310. The Coca-Cola Co has a 52-week low of $44.42 and a 52-week high of $55.92. The stock has a market capitalization of $224.59 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.79 and a current ratio of 0.92. The business’s fifty day moving average price is $53.90 and its two-hundred day moving average price is $52.21.
The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.56. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, November 29th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In other The Coca-Cola news, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $54.87, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lisa Chang bought 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $53.24 per share, with a total value of $26,620.00. Following the completion of the transaction, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at $290,051.52. The disclosure for this purchase can be found here. Over the last three months, insiders sold 403,026 shares of company stock valued at $22,037,406. 1.33% of the stock is owned by corporate insiders.
About The Coca-Cola
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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