TRUE Private Wealth Advisors boosted its holdings in The Coca-Cola Co (NYSE:KO) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,480 shares of the company’s stock after purchasing an additional 2,418 shares during the quarter. TRUE Private Wealth Advisors’ holdings in The Coca-Cola were worth $1,077,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its holdings in The Coca-Cola by 3.0% in the second quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock valued at $735,069,000 after purchasing an additional 470,700 shares in the last quarter. Summit Financial Group Inc. acquired a new position in The Coca-Cola in the second quarter valued at approximately $2,779,000. Global X Management Co. LLC boosted its holdings in The Coca-Cola by 6.0% in the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after purchasing an additional 12,513 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of The Coca-Cola by 54.8% in the second quarter. Amalgamated Bank now owns 448,572 shares of the company’s stock valued at $20,118,000 after acquiring an additional 158,741 shares during the period. Finally, Flippin Bruce & Porter Inc. boosted its holdings in shares of The Coca-Cola by 1.8% in the second quarter. Flippin Bruce & Porter Inc. now owns 98,037 shares of the company’s stock valued at $4,397,000 after acquiring an additional 1,705 shares during the period. 65.13% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on KO shares. Evercore ISI raised The Coca-Cola from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, January 2nd. Wells Fargo & Co raised The Coca-Cola from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $46.72 to $51.00 in a report on Tuesday, November 14th. Deutsche Bank started coverage on The Coca-Cola in a report on Wednesday, December 13th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Vetr raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price objective for the company in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Hold” and an average target price of $49.24.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. research analysts forecast that The Coca-Cola Co will post 2.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a $0.39 dividend. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 annualized dividend and a yield of 3.54%. The Coca-Cola’s dividend payout ratio is presently 134.55%.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the transaction, the chief financial officer now owns 123,796 shares in the company, valued at $5,713,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Edward Long sold 15,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the transaction, the insider now owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders sold 122,640 shares of company stock valued at $5,800,776 in the last quarter. 1.51% of the stock is currently owned by company insiders.
About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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