OPSEU Pension Plan Trust Fund lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,391 shares of the company’s stock after purchasing an additional 1,855 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in The Coca-Cola were worth $1,447,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. National Asset Management Inc. raised its stake in The Coca-Cola by 8.6% during the 3rd quarter. National Asset Management Inc. now owns 103,157 shares of the company’s stock worth $5,010,000 after acquiring an additional 8,208 shares in the last quarter. Integrated Advisors Network LLC increased its stake in The Coca-Cola by 4.5% in the third quarter. Integrated Advisors Network LLC now owns 67,171 shares of the company’s stock valued at $3,316,000 after purchasing an additional 2,864 shares during the period. Probity Advisors Inc. increased its stake in The Coca-Cola by 5.9% in the third quarter. Probity Advisors Inc. now owns 7,336 shares of the company’s stock valued at $362,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. increased its stake in The Coca-Cola by 39.6% in the third quarter. Victory Capital Management Inc. now owns 2,857,263 shares of the company’s stock valued at $141,063,000 after purchasing an additional 810,005 shares during the period. Finally, Boyar Asset Management Inc. acquired a new position in The Coca-Cola in the third quarter valued at $1,186,000. 65.86% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE KO traded down $0.49 on Tuesday, hitting $53.36. The company’s stock had a trading volume of 251,876 shares, compared to its average volume of 17,324,428. The Coca-Cola Company has a 12-month low of $36.27 and a 12-month high of $60.13. The company has a market capitalization of $231.42 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 6.21 and a beta of 0.55. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.13 and a quick ratio of 1.01. The stock has a 50 day moving average of $50.12 and a 200-day moving average of $47.91.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.09. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The company had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Sell-side analysts expect that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.
A number of research firms have commented on KO. Morgan Stanley lifted their price objective on shares of The Coca-Cola from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. UBS Group lifted their target price on shares of The Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Zacks Investment Research downgraded shares of The Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price on the stock. in a report on Tuesday, September 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The Coca-Cola currently has an average rating of “Buy” and an average target price of $53.28.
In other news, Director David B. Weinberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $49.75, for a total value of $4,975,000.00. Also, Director David B. Weinberg sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $50.12, for a total transaction of $10,024,000.00. Following the completion of the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,803,325.68. The disclosure for this sale can be found here. Insiders sold 400,000 shares of company stock worth $20,264,000 in the last ninety days. Insiders own 1.01% of the company’s stock.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
Featured Story: Outperform Rating
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.