Boston Financial Mangement LLC lowered its stake in The Coca-Cola Co (NYSE:KO) by 4.3% in the 1st quarter, HoldingsChannel reports. The fund owned 51,829 shares of the company’s stock after selling 2,331 shares during the period. Boston Financial Mangement LLC’s holdings in The Coca-Cola were worth $2,429,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Norges Bank bought a new stake in The Coca-Cola in the fourth quarter worth about $1,717,527,000. Oregon Public Employees Retirement Fund raised its stake in shares of The Coca-Cola by 4,577.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock valued at $415,000 after acquiring an additional 19,215,135 shares in the last quarter. FMR LLC raised its stake in shares of The Coca-Cola by 22.2% during the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares in the last quarter. BlackRock Inc. raised 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 valued at $12,020,541,000 after acquiring an additional 7,272,015 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 valued at $2,200,726,000 after acquiring an additional 4,528,987 shares in the last quarter. Institutional investors own 66.83% of the company’s stock.
Several research firms have recently weighed in on KO. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, April 26th. Morgan Stanley raised shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $55.00 in a research note on Tuesday, May 14th. UBS Group lifted their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co lifted their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The Coca-Cola has an average rating of “Hold” and an average price target of $51.05.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Co will post 2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In other The Coca-Cola news, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction on Tuesday, April 30th. The shares were 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer K. Mann sold 9,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the sale, the insider now directly owns 41,049 shares in the company, valued at $2,129,622.12. The disclosure for this sale can be found here. Insiders sold 316,600 shares of company stock worth $15,760,365 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.
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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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