Daiwa Securities Group Inc. raised its holdings in The Coca-Cola Co (NYSE:KO) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 271,875 shares of the company’s stock after purchasing an additional 33,623 shares during the quarter. Daiwa Securities Group Inc.’s holdings in The Coca-Cola were worth $14,801,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Vanguard Group Inc. increased its stake in shares of The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after acquiring an additional 4,225,080 shares during the period. Northern Trust Corp grew its position in The Coca-Cola by 1.1% during the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after buying an additional 589,927 shares during the period. Morgan Stanley grew its position in The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after buying an additional 5,449,889 shares during the period. Nuveen Asset Management LLC grew its position in The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after buying an additional 32,243,310 shares during the period. Finally, California Public Employees Retirement System grew its position in The Coca-Cola by 6.1% during the third quarter. California Public Employees Retirement System now owns 24,437,038 shares of the company’s stock worth $1,330,352,000 after buying an additional 1,413,482 shares during the period. Institutional investors own 67.32% of the company’s stock.
In related news, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the completion of the transaction, the chief operating officer now owns 174,302 shares of the company’s stock, valued at $9,563,950.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Francisco Crespo sold 130,637 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $55.15, for a total transaction of $7,204,630.55. Following the transaction, the senior vice president now directly owns 139,975 shares of the company’s stock, valued at approximately $7,719,621.25. The disclosure for this sale can be found here. Insiders have sold 403,026 shares of company stock worth $22,037,406 in the last three months. Insiders own 1.33% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Research analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is 76.92%.
Several analysts have issued reports on KO shares. Guggenheim set a $59.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank upped their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group raised shares of The Coca-Cola from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $63.00 in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.95.
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 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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