Barnett & Company Inc. cut its position in shares of The Coca-Cola Co (NYSE:KO) by 37.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,148 shares of the company’s stock after selling 697 shares during the period. Barnett & Company Inc.’s holdings in The Coca-Cola were worth $54,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Martingale Asset Management L P boosted its position in The Coca-Cola by 42.9% in the 3rd quarter. Martingale Asset Management L P now owns 279,425 shares of the company’s stock valued at $12,908,000 after buying an additional 83,897 shares during the period. Kentucky Retirement Systems purchased a new position in shares of The Coca-Cola during the 3rd quarter valued at approximately $12,952,000. Neuberger Berman Group LLC boosted its stake in shares of The Coca-Cola by 4.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,512,871 shares of the company’s stock valued at $116,070,000 after buying an additional 113,040 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of The Coca-Cola by 8.5% during the 3rd quarter. Teachers Advisors LLC now owns 8,589,748 shares of the company’s stock valued at $396,760,000 after buying an additional 675,823 shares during the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new stake in shares of The Coca-Cola during the 3rd quarter valued at approximately $662,000. 67.99% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Bernhard Goepelt sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president now owns 151,504 shares of the company’s stock, valued at $7,417,635.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Beatriz R. Perez sold 14,094 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $49.50, for a total value of $697,653.00. Following the transaction, the senior vice president now directly owns 108,551 shares of the company’s stock, valued at approximately $5,373,274.50. The disclosure for this sale can be found here. In the last three months, insiders sold 66,840 shares of company stock valued at $3,257,201. Company insiders own 1.33% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, April 26th. Morgan Stanley raised The Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $55.00 in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $51.00 price target on shares of The Coca-Cola in a research report on Thursday, February 14th. Deutsche Bank upped their price target on The Coca-Cola from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group reissued a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Friday, February 15th. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $51.20.
Shares of NYSE:KO traded up $1.05 on Wednesday, hitting $49.65. The company’s stock had a trading volume of 15,487,737 shares, compared to its average volume of 14,988,520. The Coca-Cola Co has a 12 month low of $41.93 and a 12 month high of $50.84. The stock has a market cap of $209.88 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.31 and a beta of 0.53. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02.
The Coca-Cola (NYSE:KO) last released 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 Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The company had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.89 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm 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 $0.40 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.22%. The Coca-Cola’s payout ratio is 76.92%.
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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 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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