Western Wealth Management LLC bought a new position in shares of The Coca-Cola Co (NYSE:KO) in the fourth quarter, HoldingsChannel reports. The firm bought 33,520 shares of the company’s stock, valued at approximately $1,585,000.
Several other large investors also recently modified their holdings of the stock. Cetera Advisor Networks LLC lifted its position in The Coca-Cola by 16.0% during the fourth quarter. Cetera Advisor Networks LLC now owns 211,939 shares of the company’s stock valued at $10,026,000 after purchasing an additional 29,227 shares during the last quarter. National Pension Service raised its stake in shares of The Coca-Cola by 6.0% in the fourth quarter. National Pension Service now owns 3,640,534 shares of the company’s stock valued at $165,972,000 after acquiring an additional 207,294 shares during the period. Capital Financial Planning LLC purchased a new stake in shares of The Coca-Cola in the fourth quarter valued at $193,000. M Holdings Securities Inc. raised its stake in shares of The Coca-Cola by 0.7% in the fourth quarter. M Holdings Securities Inc. now owns 52,632 shares of the company’s stock valued at $2,492,000 after acquiring an additional 373 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of The Coca-Cola by 154.7% in the fourth quarter. Hancock Whitney Corp now owns 178,418 shares of the company’s stock valued at $8,449,000 after acquiring an additional 108,363 shares during the period. Hedge funds and other institutional investors own 67.86% of the company’s stock.
KO has been the topic of several recent analyst reports. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, January 8th. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a research note on Wednesday, February 13th. Deutsche Bank reissued a “buy” rating and issued a $53.00 target price on shares of The Coca-Cola in a research note on Thursday, April 18th. Morgan Stanley increased their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Finally, HSBC downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating and reduced their target price for the company from $64.00 to $50.00 in a research note on Tuesday, March 12th. They noted that the move was a valuation call. Fifteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Hold” and a consensus price target of $50.80.
NYSE:KO opened at $48.26 on Monday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84. The stock has a market capitalization of $205.87 billion, a PE ratio of 23.20, a PEG ratio of 3.25 and a beta of 0.52. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. During the same period last year, the business earned $0.47 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Co will post 2.1 EPS 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In related news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the sale, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,493,282.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Beatriz R. Perez sold 21,742 shares of The Coca-Cola stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $48.76, for a total transaction of $1,060,139.92. Following the completion of the sale, the insider now owns 92,645 shares of the company’s stock, valued at $4,517,370.20. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY WARNING: This piece of content was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2019/04/29/western-wealth-management-llc-invests-1-59-million-in-the-coca-cola-co-ko.html.
The Coca-Cola Profile
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.
See Also: Short Selling
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.