Rowland & Co. Investment Counsel ADV increased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 2.2% during the first quarter, HoldingsChannel.com reports. The fund owned 246,186 shares of the company’s stock after buying an additional 5,215 shares during the period. The Coca-Cola comprises approximately 4.1% of Rowland & Co. Investment Counsel ADV’s holdings, making the stock its 3rd biggest position. Rowland & Co. Investment Counsel ADV’s holdings in The Coca-Cola were worth $11,536,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the company. Mraz Amerine & Associates Inc. boosted its holdings in shares of The Coca-Cola by 0.4% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock worth $2,252,000 after purchasing an additional 208 shares during the last quarter. Cordasco Financial Network boosted its holdings in shares of The Coca-Cola by 26.1% during the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock worth $49,000 after purchasing an additional 214 shares during the last quarter. Windsor Group LTD boosted its holdings in shares of The Coca-Cola by 1.7% during the 4th quarter. Windsor Group LTD now owns 13,672 shares of the company’s stock worth $647,000 after purchasing an additional 222 shares during the last quarter. Chessman Wealth Strategies RIA boosted its holdings in shares of The Coca-Cola by 1.3% during the 1st quarter. Chessman Wealth Strategies RIA now owns 17,483 shares of the company’s stock worth $819,000 after purchasing an additional 230 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of The Coca-Cola by 15.1% during the 1st quarter. Larson Financial Group LLC now owns 1,803 shares of the company’s stock worth $84,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 67.99% of the company’s stock.
KO has been the topic of several recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a report on Tuesday, April 23rd. Credit Suisse Group initiated coverage on The Coca-Cola in a report on Wednesday, March 6th. They set a “neutral” rating and a $48.00 target price on the stock. ValuEngine cut The Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Goldman Sachs Group restated a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a report on Thursday, February 14th. Finally, Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $50.00 in a report on Thursday, February 14th. Fourteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.95.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s payout ratio is presently 76.92%.
In other news, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total transaction of $804,874.00. Following the sale, the insider now owns 77,109 shares of the company’s stock, valued at approximately $3,778,341. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nancy Quan sold 23,320 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the sale, the senior vice president now directly owns 165,049 shares in the company, valued at approximately $7,914,099.55. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by insiders.
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 plantbased 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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