Diversified Trust Co raised its position in Coca-Cola Co (The) (NYSE:KO) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 517,853 shares of the company’s stock after acquiring an additional 9,914 shares during the quarter. Coca-Cola makes up approximately 1.2% of Diversified Trust Co’s portfolio, making the stock its 15th biggest position. Diversified Trust Co’s holdings in Coca-Cola were worth $25,566,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Johanson Financial Advisors Inc. boosted its stake in Coca-Cola by 4.7% in the third quarter. Johanson Financial Advisors Inc. now owns 4,692 shares of the company’s stock valued at $232,000 after acquiring an additional 209 shares in the last quarter. M. Kraus & Co lifted its stake in shares of Coca-Cola by 4.7% during the third quarter. M. Kraus & Co now owns 4,795 shares of the company’s stock worth $237,000 after buying an additional 214 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of Coca-Cola by 22.2% during the second quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock worth $54,000 after buying an additional 219 shares during the period. Grandfield & Dodd LLC lifted its stake in shares of Coca-Cola by 0.5% during the second quarter. Grandfield & Dodd LLC now owns 44,525 shares of the company’s stock worth $1,990,000 after buying an additional 223 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Coca-Cola by 16.4% during the second quarter. Larson Financial Group LLC now owns 1,597 shares of the company’s stock worth $71,000 after buying an additional 225 shares during the period. Institutional investors own 65.86% of the company’s stock.
KO has been the subject of several research reports. Bank of America reiterated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research note on Friday, July 17th. Morgan Stanley upgraded shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a research report on Tuesday, September 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.19.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. On average, equities research analysts forecast 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. Shareholders of record on Tuesday, December 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. Coca-Cola’s payout ratio is 77.73%.
In other news, SVP Robert Edward Long sold 37,534 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the completion of the sale, the senior vice president now owns 82,502 shares of the company’s stock, valued at $3,977,421.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Weinberg sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,057,376.28. The disclosure for this sale can be found here. Insiders have sold 836,439 shares of company stock valued at $40,380,407 in the last three months. Corporate insiders own 1.01% of the company’s stock.
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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