Braun Stacey Associates Inc. trimmed its holdings in shares of Coca-Cola Co (The) (NYSE:KO) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,897 shares of the company’s stock after selling 6,765 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Coca-Cola were worth $10,906,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Aspiriant LLC grew its position in Coca-Cola by 5.2% in the second quarter. Aspiriant LLC now owns 19,121 shares of the company’s stock valued at $854,000 after purchasing an additional 950 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of Coca-Cola by 59.9% in the second quarter. AE Wealth Management LLC now owns 327,510 shares of the company’s stock valued at $14,633,000 after purchasing an additional 122,633 shares during the last quarter. WealthTrust Axiom LLC lifted its stake in shares of Coca-Cola by 1.5% during the 2nd quarter. WealthTrust Axiom LLC now owns 21,779 shares of the company’s stock worth $973,000 after buying an additional 321 shares during the last quarter. Howland Capital Management LLC boosted its holdings in shares of Coca-Cola by 3.6% during the 2nd quarter. Howland Capital Management LLC now owns 51,342 shares of the company’s stock worth $2,294,000 after buying an additional 1,807 shares during the period. Finally, Raymond James Trust N.A. grew its stake in Coca-Cola by 28.6% in the 3rd quarter. Raymond James Trust N.A. now owns 986,782 shares of the company’s stock valued at $48,717,000 after buying an additional 219,463 shares during the last quarter. Hedge funds and other institutional investors own 65.86% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. UBS Group upped their target price on Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Bank of America reiterated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research report on Friday, July 17th. Morgan Stanley boosted their target price on shares of Coca-Cola from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Finally, Zacks Investment Research lowered shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $53.28.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The company had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.37 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. Coca-Cola’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. On average, analysts expect 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 paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s dividend payout ratio is currently 77.73%.
In related news, Director David B. Weinberg sold 50,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $48.02, for a total transaction of $2,401,000.00. Following the completion of the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,057,376.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the director now owns 355,214 shares in the company, valued at approximately $17,803,325.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,534 shares of company stock valued at $16,635,514. 1.01% of the stock is owned by company insiders.
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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