Maple Capital Management Inc. decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,880 shares of the company’s stock after selling 271 shares during the period. Maple Capital Management Inc.’s holdings in The Coca-Cola were worth $752,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in KO. Martingale Asset Management L P boosted its stake in The Coca-Cola by 42.9% in the 3rd quarter. Martingale Asset Management L P now owns 279,425 shares of the company’s stock valued at $12,908,000 after buying an additional 83,897 shares in the last quarter. AQR Capital Management LLC boosted its stake in The Coca-Cola by 0.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,209,097 shares of the company’s stock valued at $102,038,000 after buying an additional 5,959 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in The Coca-Cola in the 3rd quarter valued at $12,952,000. Neuberger Berman Group LLC boosted its stake in The Coca-Cola by 4.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,512,871 shares of the company’s stock valued at $116,070,000 after buying an additional 113,040 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in The Coca-Cola by 8.5% in the third quarter. Teachers Advisors LLC now owns 8,589,748 shares of the company’s stock worth $396,760,000 after purchasing an additional 675,823 shares in the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on KO. Deutsche Bank reissued a “buy” rating and issued a $53.00 price objective on shares of The Coca-Cola in a research note on Thursday. Zacks Investment Research raised The Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Wells Fargo & Co boosted their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. HSBC lowered The Coca-Cola from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $64.00 to $50.00 in a research note on Tuesday, March 12th. They noted that the move was a valuation call. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $46.00 price objective on shares of The Coca-Cola in a research note on Monday, March 11th. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.60.
Shares of KO opened at $47.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.95 and a debt-to-equity ratio of 1.33. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $50.84. The firm has a market cap of $202.55 billion, a PE ratio of 22.83, a PEG ratio of 3.16 and a beta of 0.52.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Thursday, February 14th. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Co will post 2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s dividend payout ratio is 76.92%.
In other news, SVP Beatriz R. Perez sold 10,000 shares of the company’s 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 transaction, the senior vice president now owns 92,645 shares of the company’s stock, valued at $4,493,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the transaction, the insider now directly owns 92,645 shares in the company, valued at approximately $4,517,370.20. The disclosure for this sale can be found here. 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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