Atlas Brown Inc. reduced its holdings in The Coca-Cola Co (NYSE:KO) by 6.2% during the first quarter, Holdings Channel reports. The fund owned 24,054 shares of the company’s stock after selling 1,580 shares during the quarter. Atlas Brown Inc.’s holdings in The Coca-Cola were worth $1,127,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc raised its holdings in shares of The Coca-Cola by 1.4% in the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after buying an additional 3,918,108 shares during the last quarter. BlackRock Inc. increased its stake in shares of The Coca-Cola by 2.9% during the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. FMR LLC grew its position in The Coca-Cola by 22.2% during the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after buying an additional 11,126,961 shares during the period. Northern Trust Corp grew its position in The Coca-Cola by 3.6% during the fourth quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock worth $2,394,872,000 after buying an additional 1,771,500 shares during the period. Finally, Geode Capital Management LLC grew its position in The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares during the period. Institutional investors and hedge funds own 67.99% of the company’s stock.
Several research firms have recently commented on KO. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, April 26th. Morgan Stanley raised shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $55.00 in a research report on Tuesday, May 14th. UBS Group raised their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Thursday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Coca-Cola has an average rating of “Hold” and an average price target of $51.20.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s payout ratio is currently 76.92%.
In related news, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $49.00, for a total value of $804,874.00. Following the transaction, the insider now directly owns 77,109 shares of the company’s stock, valued at $3,778,341. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Beatriz R. Perez sold 14,094 shares of The Coca-Cola stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the completion of the transaction, the senior vice president now directly owns 108,551 shares in the company, valued at $5,373,274.50. The disclosure for this sale can be found here. Insiders sold 66,840 shares of company stock worth $3,257,201 in the last 90 days. 1.33% of the stock is owned by company insiders.
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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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