Legacy Financial Advisors Inc. increased its stake in The Coca-Cola Company (NYSE:KO) by 8.9% in the 1st quarter, Holdings Channel reports. The firm owned 19,382 shares of the company’s stock after purchasing an additional 1,584 shares during the period. Legacy Financial Advisors Inc.’s holdings in The Coca-Cola were worth $1,022,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bellwether Advisors LLC bought a new stake in The Coca-Cola in the fourth quarter valued at $25,000. McClarren Financial Advisors Inc. bought a new stake in The Coca-Cola in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC grew its position in 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 acquiring an additional 709 shares during the period. Merrion Investment Management Co LLC bought a new stake in The Coca-Cola in the fourth quarter valued at $33,000. Finally, West Financial Advisors LLC acquired a new position in The Coca-Cola in the fourth quarter worth $34,000. 65.99% of the stock is currently owned by institutional investors.
In related news, VP Kathy Loveless sold 501 shares of the stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $50.46, for a total transaction of $25,280.46. Following the completion of the transaction, the vice president now directly owns 10,224 shares in the company, valued at $515,903.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 60,000 shares of the stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $53.30, for a total value of $3,198,000.00. Following the transaction, the insider now owns 145,011 shares of the company’s stock, valued at $7,729,086.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,501 shares of company stock valued at $11,883,380. 1.01% of the stock is owned by corporate insiders.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Sunday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The company had revenue of $9 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. The Coca-Cola’s payout ratio is presently 79.62%.
A number of equities analysts have commented on the company. HSBC reduced their price objective on The Coca-Cola from $61.00 to $58.00 in a research note on Wednesday, January 13th. Citigroup boosted their price objective on The Coca-Cola from $54.00 to $57.00 in a research note on Tuesday, April 20th. Wolfe Research initiated coverage on The Coca-Cola in a research note on Monday, April 12th. They set a “peer perform” rating on the stock. Sanford C. Bernstein initiated coverage on The Coca-Cola in a research note on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered The Coca-Cola from a “buy” rating to a “hold” rating and cut their price target for the company from $57.00 to $55.00 in a research note on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The Coca-Cola currently has an average rating of “Buy” and a consensus price target of $57.69.
About The Coca-Cola
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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