Gabelli Funds LLC cut its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 847,600 shares of the company’s stock after selling 20,000 shares during the quarter. Gabelli Funds LLC’s holdings in The Coca-Cola were worth $38,150,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of KO. Janus Henderson Group PLC raised its holdings in shares of The Coca-Cola by 1,117.2% in the second quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after buying an additional 12,243,387 shares during the last quarter. Capital World Investors raised its holdings in shares of The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after buying an additional 11,593,679 shares during the last quarter. Troy Asset Management Ltd bought a new position in shares of The Coca-Cola in the third quarter valued at about $260,266,000. Vanguard Group Inc. raised its holdings in shares of The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after buying an additional 4,818,963 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of The Coca-Cola by 69.6% in the third quarter. Canada Pension Plan Investment Board now owns 9,016,828 shares of the company’s stock valued at $405,847,000 after buying an additional 3,700,700 shares during the last quarter. 65.30% of the stock is owned by institutional investors.
KO has been the subject of a number of research analyst reports. Vetr raised The Coca-Cola from a “sell” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Royal Bank of Canada set a $49.00 price target on The Coca-Cola and gave the company a “buy” rating in a report on Sunday, November 12th. Goldman Sachs Group set a $45.00 price target on The Coca-Cola and gave the company a “sell” rating in a report on Wednesday, November 15th. Jefferies Group set a $47.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Zacks Investment Research cut The Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The Coca-Cola has an average rating of “Hold” and a consensus price target of $48.59.
The Coca-Cola Co (NYSE:KO) opened at $46.07 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The Coca-Cola Co has a 12-month low of $40.22 and a 12-month high of $47.48. The stock has a market capitalization of $196,288.92, a P/E ratio of 24.38, a P/E/G ratio of 3.75 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The business had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the previous year, the firm earned $0.49 EPS. The Coca-Cola’s quarterly revenue was down 14.6% compared to the same quarter last year. research analysts anticipate that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.37 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The Coca-Cola’s dividend payout ratio is presently 140.95%.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares in the company, valued at approximately $14,749,399.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by insiders.
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The Coca-Cola Company Profile
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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