Investors Asset Management of Georgia Inc. GA ADV cut its stake in Coca-Cola Co (The) (NYSE:KO) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,376 shares of the company’s stock after selling 2,700 shares during the quarter. Coca-Cola comprises about 1.3% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 12th biggest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Coca-Cola were worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of Coca-Cola by 6.7% during the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after purchasing an additional 18,701,930 shares in the last quarter. Capital World Investors increased its stake in Coca-Cola by 17.8% during the 1st quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after buying an additional 5,792,057 shares during the period. Advisor Group Holdings Inc. purchased a new stake in Coca-Cola during the 1st quarter worth $47,894,000. APG Asset Management N.V. lifted its holdings in Coca-Cola by 39.7% in the 1st quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock worth $557,173,000 after buying an additional 3,580,852 shares in the last quarter. Finally, State Street Corp boosted its position in Coca-Cola by 1.0% in the 1st quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after buying an additional 1,787,004 shares during the last quarter. Institutional investors own 65.86% of the company’s stock.
In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $48.50, for a total value of $4,796,892.50. Following the sale, the director now directly owns 355,214 shares in the company, valued at $17,227,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Weinberg sold 400,000 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,199,461.88. The disclosure for this sale can be found here. Insiders have sold 836,439 shares of company stock valued at $40,380,407 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.
KO stock opened at $50.03 on Friday. The firm has a market cap of $214.90 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 5.91 and a beta of 0.55. Coca-Cola Co has a 1-year low of $36.27 and a 1-year high of $60.13. The firm has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $47.25. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company’s quarterly revenue was down 28.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, analysts expect that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. Coca-Cola’s payout ratio is currently 77.73%.
KO has been the topic of a number of analyst reports. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price on the stock. in a research report on Tuesday, September 22nd. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Bank of America reiterated a “buy” rating and set a $53.00 target price on shares of Coca-Cola in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $54.19.
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 plant-based 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.
See Also: volatile stocks
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co (The) (NYSE:KO).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.