NEXT Financial Group Inc boosted its position in The Coca-Cola Co (NYSE:KO) by 30.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,882 shares of the company’s stock after purchasing an additional 5,393 shares during the period. NEXT Financial Group Inc’s holdings in The Coca-Cola were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of The Coca-Cola by 3.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,203 shares of the company’s stock worth $16,345,000 after acquiring an additional 10,881 shares during the period. Eagle Asset Management Inc. increased its position in shares of The Coca-Cola by 3.1% during the fourth quarter. Eagle Asset Management Inc. now owns 2,176,492 shares of the company’s stock worth $103,056,000 after acquiring an additional 65,951 shares during the period. Truehand Inc purchased a new position in shares of The Coca-Cola during the fourth quarter worth approximately $2,674,000. Bruderman Asset Management LLC increased its position in shares of The Coca-Cola by 105.8% during the fourth quarter. Bruderman Asset Management LLC now owns 18,077 shares of the company’s stock worth $856,000 after acquiring an additional 9,294 shares during the period. Finally, Gryphon Financial Partners LLC increased its position in shares of The Coca-Cola by 15.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 54,348 shares of the company’s stock worth $2,541,000 after acquiring an additional 7,183 shares during the period. 67.83% of the stock is owned by institutional investors and hedge funds.
In other news, insider Beatriz R. Perez sold 21,742 shares of The Coca-Cola stock in a transaction on Monday, February 4th. The shares were 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 directly owns 92,645 shares in the company, valued at $4,517,370.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction on Friday, February 1st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the sale, the senior vice president now owns 92,645 shares of the company’s stock, valued at $4,493,282.50. The disclosure for this sale can be found here. 1.33% of the stock is owned by company insiders.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. The Coca-Cola had a net margin of 20.20% and a return on equity of 43.91%. The Coca-Cola’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. On average, sell-side analysts expect that The Coca-Cola Co will post 2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.33%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
A number of brokerages have recently commented on KO. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a research report on Wednesday, February 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a research report on Tuesday. UBS Group set a $52.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank raised their target price on shares of The Coca-Cola from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The Coca-Cola has a consensus rating of “Hold” and a consensus price target of $50.75.
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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.
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