Garrett Wealth Advisory Group LLC purchased a new position in The Coca-Cola Co (NYSE:KO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,652 shares of the company’s stock, valued at approximately $220,000.
Other institutional investors have also added to or reduced their stakes in the company. Martingale Asset Management L P grew its holdings in shares of The Coca-Cola by 42.9% during the third 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 during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of The Coca-Cola by 4.7% during the third 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 during the last quarter. Vanguard Group Inc grew its holdings in shares of The Coca-Cola by 1.4% during 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. Moody National Bank Trust Division grew its holdings in shares of The Coca-Cola by 7.2% during the fourth quarter. Moody National Bank Trust Division now owns 34,209 shares of the company’s stock valued at $1,620,000 after buying an additional 2,303 shares during the last quarter. Finally, Packer & Co Ltd grew its holdings in shares of The Coca-Cola by 54.7% during the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the company’s stock valued at $37,955,000 after buying an additional 438,222 shares during the last quarter. Institutional investors own 67.82% of the company’s stock.
A number of research firms have recently commented on KO. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Friday, April 26th. Deutsche Bank restated a “buy” rating and issued a $53.00 target price on shares of The Coca-Cola in a report on Thursday, April 18th. HSBC cut shares of The Coca-Cola from a “buy” rating to a “hold” rating and dropped their target price for the stock from $64.00 to $50.00 in a report on Tuesday, March 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Fifteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Coca-Cola has an average rating of “Hold” and an average target price of $50.80.
In other 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 transaction of $804,874.00. Following the transaction, the insider now owns 77,109 shares in the company, valued at approximately $3,778,341. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.33% of the company’s stock.
Shares of KO stock opened at $48.47 on Tuesday. The company has a market capitalization of $206.34 billion, a P/E ratio of 23.30, a P/E/G ratio of 3.28 and a beta of 0.53. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $50.84. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. As a group, equities analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
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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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