Hussman Strategic Advisors Inc. grew its position in The Coca-Cola Co (NYSE:KO) by 1,785.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,800 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in The Coca-Cola were worth $2,377,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in KO. Comerica Securities Inc. grew its position in shares of The Coca-Cola by 49.1% in the 1st quarter. Comerica Securities Inc. now owns 25,417 shares of the company’s stock valued at $1,079,000 after acquiring an additional 8,371 shares during the period. Stuyvesant Capital Management boosted its holdings in shares of The Coca-Cola by 5.4% during the 1st quarter. Stuyvesant Capital Management now owns 55,760 shares of the company’s stock worth $2,366,000 after buying an additional 2,850 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of The Coca-Cola by 8.6% during the 1st quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock worth $141,000 after buying an additional 264 shares during the period. Verity Asset Management Inc. bought a new stake in shares of The Coca-Cola during the 1st quarter worth about $298,000. Finally, Stockman Wealth Management Inc. boosted its holdings in shares of The Coca-Cola by 14.3% during the 1st quarter. Stockman Wealth Management Inc. now owns 13,416 shares of the company’s stock worth $569,000 after buying an additional 1,676 shares during the period. 65.30% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 target price on shares of The Coca-Cola in a report on Friday, December 22nd. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday. Cowen reaffirmed a “hold” rating and set a $42.00 target price on shares of The Coca-Cola in a report on Thursday, September 28th. Macquarie assumed coverage on shares of The Coca-Cola in a report on Friday, September 15th. They set a “neutral” rating and a $47.00 target price for the company. Finally, Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $48.60.
The Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. sell-side analysts predict that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s payout ratio is presently 140.95%.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares in the company, valued at approximately $14,749,399.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by insiders.
The Coca-Cola Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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