Surevest Inc. lifted its position in The Coca-Cola Co (NYSE:KO) by 34.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,399 shares of the company’s stock after purchasing an additional 9,276 shares during the quarter. Surevest Inc.’s holdings in The Coca-Cola were worth $2,015,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of KO. LFA Lugano Financial Advisors SA bought a new stake in shares of The Coca-Cola during the fourth quarter worth $31,000. Quantum Capital Management bought a new stake in shares of The Coca-Cola during the third quarter worth $34,000. Simon Quick Advisors LLC grew its holdings in shares of The Coca-Cola by 128.9% during the fourth quarter. Simon Quick Advisors LLC now owns 673 shares of the company’s stock worth $37,000 after purchasing an additional 379 shares during the last quarter. KCS Wealth Advisory bought a new stake in shares of The Coca-Cola during the third quarter worth $41,000. Finally, Proffitt & Goodson Inc. bought a new stake in shares of The Coca-Cola during the third quarter worth $44,000. Institutional investors and hedge funds own 67.54% of the company’s stock.
In other The Coca-Cola news, VP Larry M. Mark sold 90,289 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $54.93, for a total transaction of $4,959,574.77. Following the completion of the transaction, the vice president now directly owns 93,474 shares of the company’s stock, valued at $5,134,526.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James L. Dinkins sold 18,389 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $55.00, for a total value of $1,011,395.00. Following the transaction, the senior vice president now directly owns 69,344 shares of the company’s stock, valued at $3,813,920. The disclosure for this sale can be found here. Insiders have sold 132,678 shares of company stock valued at $7,264,570 over the last ninety days. 1.33% of the stock is currently owned by company insiders.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, November 29th. The Coca-Cola’s payout ratio is 76.92%.
KO has been the topic of several recent research reports. Evercore ISI reiterated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Sunday, November 17th. Morgan Stanley reissued a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research note on Tuesday, October 29th. UBS Group raised The Coca-Cola from a “neutral” rating to a “buy” rating and increased their target price for the company from $55.00 to $63.00 in a research note on Wednesday, October 23rd. Credit Suisse Group raised The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their target price for the company from $54.00 to $64.00 in a research note on Thursday, January 9th. Finally, Wells Fargo & Co set a $60.00 target price on The Coca-Cola and gave the company a “buy” rating in a research note on Monday, October 21st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.05.
About The Coca-Cola
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 plant-based 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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