Bronfman E.L. Rothschild L.P. increased its stake in shares of The Coca-Cola Co (NYSE:KO) by 36.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 105,578 shares of the company’s stock after buying an additional 27,975 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in The Coca-Cola were worth $4,999,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in KO. Martingale Asset Management L P increased its holdings in The Coca-Cola by 42.9% during the 3rd quarter. Martingale Asset Management L P now owns 279,425 shares of the company’s stock worth $12,908,000 after purchasing an additional 83,897 shares during the period. AQR Capital Management LLC increased its holdings in The Coca-Cola by 0.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,209,097 shares of the company’s stock worth $102,038,000 after purchasing an additional 5,959 shares during the period. Kentucky Retirement Systems purchased a new stake in The Coca-Cola during the 3rd quarter worth about $12,952,000. Neuberger Berman Group LLC increased its holdings in The Coca-Cola by 4.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,512,871 shares of the company’s stock worth $116,070,000 after purchasing an additional 113,040 shares during the period. Finally, Teachers Advisors LLC increased its holdings in The Coca-Cola by 8.5% during the 3rd quarter. Teachers Advisors LLC now owns 8,589,748 shares of the company’s stock worth $396,760,000 after purchasing an additional 675,823 shares during the period. 67.83% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on KO. Wells Fargo & Co upped their price target on The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Deutsche Bank restated a “buy” rating and set a $53.00 price target on shares of The Coca-Cola in a report on Thursday. HSBC downgraded The Coca-Cola from a “buy” rating to a “hold” rating and cut their price target for the stock from $64.00 to $50.00 in a report on Tuesday, March 12th. They noted that the move was a valuation call. Jefferies Financial Group restated a “hold” rating and set a $46.00 price target on shares of The Coca-Cola in a report on Monday, March 11th. Finally, ValuEngine downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Sixteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.60.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, February 14th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.07 billion. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. As a group, research analysts forecast that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.40 per share. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 14th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In related news, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was 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 of the company’s stock, valued at approximately $4,493,282.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the completion of the sale, the insider now directly 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 owned by corporate insiders.
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 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.
Further Reading: Asset Allocation, Balancing Your Investments
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