Fiduciary Trust Co. reduced its holdings in The Coca-Cola Co (NYSE:KO) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 290,737 shares of the company’s stock after selling 2,632 shares during the quarter. Fiduciary Trust Co.’s holdings in The Coca-Cola were worth $13,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank increased its position in The Coca-Cola by 3.0% in the 2nd quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock valued at $735,069,000 after acquiring an additional 470,700 shares during the period. Summit Financial Group Inc. acquired a new stake in The Coca-Cola in the 2nd quarter valued at approximately $2,779,000. Global X Management Co. LLC increased its position in The Coca-Cola by 6.0% in the 2nd quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after acquiring an additional 12,513 shares during the period. Amalgamated Bank increased its position in The Coca-Cola by 54.8% in the 2nd quarter. Amalgamated Bank now owns 448,572 shares of the company’s stock valued at $20,118,000 after acquiring an additional 158,741 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. increased its position in The Coca-Cola by 5.6% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 139,135 shares of the company’s stock valued at $5,905,000 after acquiring an additional 7,418 shares during the period. Hedge funds and other institutional investors own 65.30% of the company’s stock.
Several analysts recently commented on KO shares. Macquarie started coverage on The Coca-Cola in a research report on Friday, September 15th. They issued a “neutral” rating and a $47.00 target price on the stock. lifted their price target on The Coca-Cola from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. Cowen reiterated a “hold” rating and set a $42.00 price target on shares of The Coca-Cola in a research report on Thursday, September 28th. Bank of America reiterated a “buy” rating and set a $52.00 price target (up from $50.00) on shares of The Coca-Cola in a research report on Monday, October 9th. Finally, Vetr cut The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $45.35 price target on the stock. in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $48.76.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. research analysts anticipate that The Coca-Cola Co will post 1.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is presently 140.95%.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the completion of the sale, the insider now directly owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.51% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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