Fulton Breakefield Broenniman LLC Lowers Stock Holdings in Coca-Cola Co (The) (NYSE:KO)

Fulton Breakefield Broenniman LLC reduced its stake in Coca-Cola Co (The) (NYSE:KO) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,151 shares of the company’s stock after selling 521 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Coca-Cola were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Coca-Cola by 6.7% during the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock valued at $13,316,350,000 after purchasing an additional 18,701,930 shares in the last quarter. APG Asset Management N.V. raised its position in Coca-Cola by 39.7% during the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock valued at $557,173,000 after purchasing an additional 3,580,852 shares during the period. State Street Corp raised its position in Coca-Cola by 1.0% during the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after purchasing an additional 1,787,004 shares during the period. Nordea Investment Management AB raised its position in Coca-Cola by 58.6% during the second quarter. Nordea Investment Management AB now owns 3,914,208 shares of the company’s stock valued at $173,360,000 after purchasing an additional 1,446,746 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in shares of Coca-Cola by 33.6% in the first quarter. 1832 Asset Management L.P. now owns 5,674,652 shares of the company’s stock worth $256,887,000 after buying an additional 1,427,023 shares during the period. 65.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of KO traded up $0.23 during midday trading on Friday, reaching $50.91. The stock had a trading volume of 400,683 shares, compared to its average volume of 17,389,100. Coca-Cola Co has a 1-year low of $36.27 and a 1-year high of $60.13. The company’s fifty day simple moving average is $50.04 and its two-hundred day simple moving average is $47.45. The company has a market cap of $217.69 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 5.81 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The business had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the business earned $0.56 EPS. The company’s revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Coca-Cola Co will post 1.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.22%. Coca-Cola’s payout ratio is 77.73%.

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Coca-Cola from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a report on Tuesday, September 22nd. Bank of America restated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a report on Friday, July 17th. Finally, Morgan Stanley raised their price objective on Coca-Cola from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.28.

In related news, Director David B. Weinberg sold 50,000 shares of Coca-Cola stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.02, for a total transaction of $2,401,000.00. Following the sale, the director now directly owns 355,214 shares in the company, valued at approximately $17,057,376.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Weinberg sold 200,000 shares of Coca-Cola stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $48.02, for a total transaction of $9,604,000.00. Following the completion of the transaction, the director now owns 355,214 shares in the company, valued at $17,057,376.28. The disclosure for this sale can be found here. Insiders have sold a total of 436,439 shares of company stock worth $21,012,407 over the last quarter. 1.01% of the stock is owned by company insiders.

Coca-Cola 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 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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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