Pax World Management LLC raised its stake in The Coca-Cola Co (NYSE:KO) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 34,135 shares of the company’s stock after purchasing an additional 2,300 shares during the quarter. Pax World Management LLC’s holdings in The Coca-Cola were worth $1,536,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in The Coca-Cola by 59.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after purchasing an additional 1,026 shares in the last quarter. Eagle Ridge Investment Management acquired a new stake in The Coca-Cola in the 2nd quarter valued at about $138,000. Legacy Advisors LLC acquired a new stake in The Coca-Cola in the 3rd quarter valued at about $139,000. Almanack Investment Partners LLC. acquired a new stake in The Coca-Cola in the 2nd quarter valued at about $142,000. Finally, Perkins Coie Trust Co raised its position in The Coca-Cola by 21.9% in the 2nd quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock valued at $143,000 after purchasing an additional 572 shares in the last quarter. 65.30% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on KO shares. Royal Bank of Canada set a $49.00 price target on The Coca-Cola and gave the company a “buy” rating in a research report on Sunday, November 12th. Goldman Sachs Group set a $45.00 price target on The Coca-Cola and gave the company a “sell” rating in a research report on Wednesday, November 15th. Jefferies Group set a $47.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a research report on Friday, October 13th. Zacks Investment Research lowered The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co raised The Coca-Cola from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $46.72 to $51.00 in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.01.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $9.08 billion for the quarter, compared to the consensus estimate of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. analysts expect that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. The Coca-Cola’s dividend payout ratio is presently 140.95%.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 320,013 shares in the company, valued at approximately $14,749,399.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.51% of the company’s stock.
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The Coca-Cola Profile
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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