Spearhead Capital Advisors LLC raised its stake in The Coca-Cola Co (NYSE:KO) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,101 shares of the company’s stock after buying an additional 5,815 shares during the period. Spearhead Capital Advisors LLC’s holdings in The Coca-Cola were worth $3,800,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Prime Capital Investment Advisors LLC purchased a new position in The Coca-Cola during the first quarter worth about $28,000. Orrstown Financial Services Inc. boosted its holdings in The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in The Coca-Cola during the first quarter worth about $35,000. Transamerica Financial Advisors Inc. boosted its holdings in The Coca-Cola by 567.7% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock worth $41,000 after purchasing an additional 721 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in The Coca-Cola during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 66.79% of the company’s stock.
KO has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Credit Suisse Group initiated coverage on shares of The Coca-Cola in a report on Wednesday, March 6th. They set a “neutral” rating and a $48.00 price target on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Deutsche Bank boosted their target price on shares of The Coca-Cola from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, HSBC cut shares of The Coca-Cola from a “buy” rating to a “hold” rating and dropped their target price for the company from $64.00 to $50.00 in a research note on Tuesday, March 12th. They noted that the move was a valuation call. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The Coca-Cola presently has a consensus rating of “Hold” and a consensus price target of $51.15.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities research analysts predict that The Coca-Cola Co will post 2.09 EPS for the current year.
The firm also recently disclosed 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 of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
In other The Coca-Cola news, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the completion of the sale, the senior vice president now owns 57,538 shares of the company’s stock, valued at approximately $2,875,173.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer K. Mann sold 9,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the sale, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The disclosure for this sale can be found here. Insiders sold a total of 316,600 shares of company stock valued at $15,760,365 in the last ninety days. 1.33% of the stock is owned by corporate insiders.
The Coca-Cola Company Profile
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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