Taylor Hoffman Wealth Management increased its position in shares of The Coca-Cola Co (NYSE:KO) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,606 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. The Coca-Cola comprises about 1.3% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 22nd largest position. Taylor Hoffman Wealth Management’s holdings in The Coca-Cola were worth $1,830,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC increased its holdings in shares of 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 worth $1,658,966,000 after acquiring an additional 32,243,310 shares in the last quarter. Morgan Stanley grew its holdings in shares of The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after buying an additional 5,449,889 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after buying an additional 4,225,080 shares in the last quarter. California Public Employees Retirement System boosted its position in The Coca-Cola by 20.9% during the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock valued at $1,172,359,000 after purchasing an additional 3,984,190 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in The Coca-Cola by 5,235.0% during the second quarter. Thoroughbred Financial Services LLC now owns 1,696,625 shares of the company’s stock valued at $169,662,000 after purchasing an additional 1,664,823 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.
NYSE:KO traded down $0.08 during mid-day trading on Friday, hitting $52.21. 6,997,608 shares of the stock were exchanged, compared to its average volume of 13,198,850. The stock has a market capitalization of $224.59 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The firm’s 50-day simple moving average is $53.85 and its 200 day simple moving average is $52.23. 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 Coca-Cola Co has a fifty-two week low of $44.42 and a fifty-two week high of $55.92.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. On average, analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid 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 is Friday, November 29th. The Coca-Cola’s dividend payout ratio is 76.92%.
KO has been the subject of several recent research reports. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. Wells Fargo & Co set a $60.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research report on Monday, October 21st. Atlantic Securities assumed coverage on The Coca-Cola in a research report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective for the company. HSBC reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $55.95.
In other The Coca-Cola news, COO Brian John Smith sold 60,000 shares of the business’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 transaction of $3,292,200.00. Following the completion of the sale, the chief operating officer now directly owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 403,026 shares of company stock worth $22,037,406 over the last three months. 1.33% of the stock is owned by company insiders.
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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