TRH Financial LLC lifted its holdings in Coca-Cola Co (The) (NYSE:KO) by 20.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,460 shares of the company’s stock after buying an additional 8,567 shares during the quarter. Coca-Cola accounts for 1.6% of TRH Financial LLC’s portfolio, making the stock its 18th biggest holding. TRH Financial LLC’s holdings in Coca-Cola were worth $2,442,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Costello Asset Management INC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $25,000. Demars Financial Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Evolution Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 112.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 332 shares in the last quarter. Anderson Fisher LLC increased its holdings in shares of Coca-Cola by 26.5% in the 2nd quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock valued at $51,000 after purchasing an additional 239 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Coca-Cola by 22.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after purchasing an additional 219 shares in the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $48.02, for a total value of $9,604,000.00. Following the completion of the sale, the director now owns 355,214 shares of the company’s stock, valued at $17,057,376.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Weinberg sold 400,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the completion of the sale, 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. In the last three months, insiders have sold 836,439 shares of company stock valued at $40,380,407. Corporate insiders own 1.01% of the company’s stock.
Shares of NYSE:KO opened at $50.03 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 1.97. The company has a fifty day simple moving average of $49.97 and a 200 day simple moving average of $47.25. The firm has a market cap of $214.90 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. Coca-Cola Co has a 12-month low of $36.27 and a 12-month high of $60.13.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 28.0% compared to the same quarter last year. As a group, equities research analysts forecast that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is 77.73%.
KO has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a report on Tuesday, September 22nd. Morgan Stanley upgraded shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their target price for the company 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 restated a “buy” rating and set a $53.00 target price on shares of Coca-Cola in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.19.
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.
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