Courier Capital LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 28,910 shares of the company’s stock after selling 1,677 shares during the period. Courier Capital LLC’s holdings in The Coca-Cola were worth $1,430,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Boyar Asset Management Inc. acquired a new stake in The Coca-Cola in the 3rd quarter valued at approximately $1,186,000. Valmark Advisers Inc. boosted its position in The Coca-Cola by 70.4% in the 3rd quarter. Valmark Advisers Inc. now owns 9,937 shares of the company’s stock valued at $491,000 after buying an additional 4,105 shares during the period. Bell Rock Capital LLC boosted its position in The Coca-Cola by 15.7% in the 3rd quarter. Bell Rock Capital LLC now owns 11,693 shares of the company’s stock valued at $577,000 after buying an additional 1,591 shares during the period. LPL Financial LLC boosted its position in The Coca-Cola by 0.6% in the 3rd quarter. LPL Financial LLC now owns 1,678,051 shares of the company’s stock valued at $82,845,000 after buying an additional 9,410 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new position in The Coca-Cola in the 3rd quarter valued at approximately $3,094,000. Hedge funds and other institutional investors own 65.86% of the company’s stock.
In other The Coca-Cola news, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $50.12, for a total value of $10,024,000.00. Following the sale, the director now owns 355,214 shares of the company’s stock, valued at $17,803,325.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Weinberg sold 100,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $52.65, for a total transaction of $5,265,000.00. Following the completion of the sale, the director now directly owns 355,214 shares in the company, valued at approximately $18,702,017.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,000 shares of company stock worth $20,264,000. 1.01% of the stock is owned by insiders.
KO has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of The Coca-Cola from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Zacks Investment Research cut shares of The Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research report on Tuesday, September 22nd. Finally, Morgan Stanley lifted their price objective on shares of The Coca-Cola from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $53.28.
KO stock opened at $53.41 on Tuesday. The company has a market cap of $231.42 billion, a P/E ratio of 28.05, a P/E/G ratio of 6.21 and a beta of 0.55. The Coca-Cola Company has a 52 week low of $36.27 and a 52 week high of $60.13. The company’s 50-day moving average price is $50.12 and its 200 day moving average price is $47.91. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 1.94.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. The firm had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.37 billion. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, equities research analysts expect that The Coca-Cola Company will post 1.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, November 30th. The Coca-Cola’s dividend payout ratio is currently 77.73%.
About The Coca-Cola
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.
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