Edge Asset Management Inc. lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,336,322 shares of the company’s stock after selling 142,400 shares during the period. Edge Asset Management Inc.’s holdings in The Coca-Cola were worth $55,404,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of KO. Searle & CO. bought a new position in The Coca-Cola during the third quarter valued at approximately $230,000. Ronna Sue Cohen increased its position in The Coca-Cola by 1.3% in the third quarter. Ronna Sue Cohen now owns 45,302 shares of the company’s stock valued at $1,917,000 after buying an additional 590 shares during the period. Advisory Services Network LLC increased its position in The Coca-Cola by 5.5% in the third quarter. Advisory Services Network LLC now owns 33,159 shares of the company’s stock valued at $1,403,000 after buying an additional 1,727 shares during the period. Lawson Kroeker Investment Management Inc. NE increased its position in The Coca-Cola by 8.9% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 23,860 shares of the company’s stock valued at $1,010,000 after buying an additional 1,950 shares during the period. Finally, Independence Advisors LLC bought a new position in The Coca-Cola during the third quarter valued at approximately $440,000. 63.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Coca-Cola Co (NYSE:KO) traded down 0.05% on Friday, hitting $43.07. The stock had a trading volume of 15,533,225 shares. The stock has a market cap of $184.92 billion, a P/E ratio of 28.91 and a beta of 0.69. The firm has a 50 day moving average of $42.47 and a 200 day moving average of $41.77. The Coca-Cola Co has a 12 month low of $39.88 and a 12 month high of $46.01. The Coca-Cola also was the recipient of some unusual options trading on Tuesday. Stock traders purchased 12,635 call options on the company. This is an increase of approximately 130% compared to the average daily volume of 5,490 call options.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm earned $9.40 billion during the quarter, compared to analysts’ expectations of $9.21 billion. The Coca-Cola had a return on equity of 32.94% and a net margin of 15.59%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that The Coca-Cola Co will post $1.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were given a dividend of $0.37 per share. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.43%. The Coca-Cola’s dividend payout ratio (DPR) is presently 93.33%.
Several equities research analysts recently weighed in on the stock. Goldman Sachs Group Inc set a $38.00 price target on shares of The Coca-Cola and gave the stock a “sell” rating in a research report on Friday, February 10th. Gabelli reiterated a “hold” rating on shares of The Coca-Cola in a research report on Saturday, February 11th. Susquehanna Bancshares Inc set a $38.00 price objective on shares of The Coca-Cola and gave the company a “hold” rating in a research report on Saturday, March 25th. Zacks Investment Research raised shares of The Coca-Cola from a “sell” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Friday. Finally, Jefferies Group LLC set a $42.00 target price on shares of The Coca-Cola and gave the company a “hold” rating in a research note on Tuesday, March 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Hold” and a consensus target price of $43.91.
The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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