Brooks Moore & Associates Inc. lessened its stake in The Coca-Cola Co (NYSE:KO) by 20.7% in the 1st quarter, Holdings Channel reports. The firm owned 39,562 shares of the company’s stock after selling 10,300 shares during the quarter. The Coca-Cola makes up 1.7% of Brooks Moore & Associates Inc.’s holdings, making the stock its 23rd largest holding. Brooks Moore & Associates Inc.’s holdings in The Coca-Cola were worth $1,854,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after buying an additional 7,272,015 shares during the period. FMR LLC raised its position in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after purchasing an additional 11,126,961 shares during the period. Northern Trust Corp raised its position in The Coca-Cola by 3.6% in the fourth quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock valued at $2,394,872,000 after purchasing an additional 1,771,500 shares during the period. Geode Capital Management LLC raised its position in The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after purchasing an additional 4,528,987 shares during the period. Finally, Norges Bank acquired a new stake in shares of The Coca-Cola during the fourth quarter valued at about $1,717,527,000. Institutional investors own 66.83% of the company’s stock.
A number of equities analysts recently commented on KO shares. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, June 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a report on Wednesday, February 13th. Barclays set a $54.00 price target on The Coca-Cola and gave the company a “buy” rating in a report on Thursday, May 16th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a report on Tuesday, April 23rd. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Coca-Cola presently has an average rating of “Hold” and an average price target of $51.05.
In other The Coca-Cola news, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total value of $1,519,687.64. Following the sale, the senior vice president now directly owns 57,538 shares in the company, valued at $2,875,173.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy Quan sold 23,320 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.95, for a total transaction of $1,118,194.00. Following the completion of the sale, the senior vice president now owns 165,049 shares in the company, valued at $7,914,099.55. The disclosure for this sale can be found here. Insiders have sold 316,600 shares of company stock worth $15,760,365 over the last quarter. 1.33% of the stock is owned by company insiders.
Shares of KO stock opened at $51.64 on Thursday. The Coca-Cola Co has a 1 year low of $42.96 and a 1 year high of $52.19. The company has a market cap of $219.66 billion, a PE ratio of 24.83, a P/E/G ratio of 3.46 and a beta of 0.50. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The Coca-Cola’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The business also recently announced 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. The ex-dividend date is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. The Coca-Cola’s payout ratio is 76.92%.
The Coca-Cola Company 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.
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