Means Investment CO. Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 42.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,324 shares of the company’s stock after selling 13,000 shares during the quarter. Means Investment CO. Inc.’s holdings in The Coca-Cola were worth $913,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in KO. Bellwether Advisors LLC purchased a new stake in The Coca-Cola in the fourth quarter valued at about $25,000. McClarren Financial Advisors Inc. purchased a new stake in The Coca-Cola in the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of The Coca-Cola by 136.3% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,229 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares during the period. Merrion Investment Management Co LLC acquired a new position in shares of The Coca-Cola in the fourth quarter valued at about $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of The Coca-Cola in the fourth quarter valued at about $34,000. Institutional investors own 65.99% of the company’s stock.
In other The Coca-Cola news, VP Kathy Loveless sold 501 shares of The Coca-Cola stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $50.46, for a total value of $25,280.46. Following the transaction, the vice president now owns 10,224 shares in the company, valued at $515,903.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 60,000 shares of The Coca-Cola stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $53.30, for a total transaction of $3,198,000.00. Following the completion of the transaction, the insider now owns 145,011 shares in the company, valued at approximately $7,729,086.30. The disclosure for this sale can be found here. Insiders sold 80,501 shares of company stock worth $4,246,280 in the last three months. 1.01% of the stock is currently owned by corporate insiders.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.62 billion. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that The Coca-Cola Company will post 1.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.16%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 12th. The Coca-Cola’s dividend payout ratio (DPR) is 79.62%.
Several analysts have commented on KO shares. JPMorgan Chase & Co. lowered The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Thursday, January 7th. Morgan Stanley dropped their price objective on The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, January 14th. Guggenheim cut The Coca-Cola from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft cut The Coca-Cola from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Tuesday, January 5th. Finally, Sanford C. Bernstein assumed coverage on The Coca-Cola in a research note on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The Coca-Cola has an average rating of “Buy” and a consensus target price of $54.86.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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