Fort Sheridan Advisors LLC increased its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,014 shares of the company’s stock after purchasing an additional 421 shares during the period. Fort Sheridan Advisors LLC’s holdings in Coca-Cola were worth $415,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. KCM Investment Advisors LLC grew its position in Coca-Cola by 4.6% in the third quarter. KCM Investment Advisors LLC now owns 53,822 shares of the company’s stock valued at $2,824,000 after acquiring an additional 2,374 shares during the period. BOKF NA bought a new stake in Coca-Cola in the third quarter valued at $31,698,000. MD Financial Management Inc. grew its position in Coca-Cola by 11.9% in the third quarter. MD Financial Management Inc. now owns 47,869 shares of the company’s stock valued at $2,512,000 after acquiring an additional 5,077 shares during the period. Banque Pictet & Cie SA grew its position in Coca-Cola by 1.8% in the third quarter. Banque Pictet & Cie SA now owns 115,360 shares of the company’s stock valued at $6,053,000 after acquiring an additional 2,000 shares during the period. Finally, BerganKDV Wealth Management LLC grew its position in Coca-Cola by 2.8% in the third quarter. BerganKDV Wealth Management LLC now owns 85,101 shares of the company’s stock valued at $4,465,000 after acquiring an additional 2,306 shares during the period. Institutional investors and hedge funds own 68.51% of the company’s stock.
Several analysts have recently commented on KO shares. Royal Bank of Canada increased their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, April 26th. The Goldman Sachs Group set a $58.00 target price on Coca-Cola in a report on Thursday, February 10th. Cowen increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock a “market perform” rating in a report on Tuesday, April 26th. DZ Bank lowered Coca-Cola from a “buy” rating to a “hold” rating and set a $69.00 price target on the stock. in a research note on Thursday, April 28th. Finally, Cowen upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a research note on Tuesday, April 26th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Buy” and a consensus target price of $67.29.
Coca-Cola (NYSE:KO – Get Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. Coca-Cola’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.68%. Coca-Cola’s dividend payout ratio is 73.95%.
In other news, SVP Beatriz R. Perez sold 143,924 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $64.78, for a total value of $9,323,396.72. Following the completion of the sale, the senior vice president now directly owns 121,178 shares of the company’s stock, valued at $7,849,910.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jennifer K. Mann sold 11,337 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $62.90, for a total value of $713,097.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 667,137 shares of company stock valued at $42,579,677. Corporate insiders own 0.98% of the company’s stock.
About Coca-Cola (Get Rating)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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