Thompson Investment Management Inc. lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 18.4% during the third quarter, HoldingsChannel reports. The firm owned 41,658 shares of the company’s stock after selling 9,393 shares during the period. Thompson Investment Management Inc.’s holdings in The Coca-Cola were worth $1,875,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in KO. Meeder Asset Management Inc. raised its holdings in The Coca-Cola by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after purchasing an additional 1,026 shares in the last quarter. Veritas Investment Management LLP acquired a new position in shares of The Coca-Cola in the 3rd quarter valued at $135,000. Eagle Ridge Investment Management acquired a new position in shares of The Coca-Cola in the 2nd quarter valued at $138,000. Legacy Advisors LLC acquired a new position in shares of The Coca-Cola in the 3rd quarter valued at $139,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of The Coca-Cola in the 2nd quarter valued at $142,000. 65.30% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on KO. Evercore ISI raised shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $46.04 to $55.00 in a report on Friday, January 12th. Goldman Sachs Group set a $49.00 target price on shares of The Coca-Cola and gave the company a “sell” rating in a report on Wednesday, January 10th. Vetr cut shares of The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 target price on the stock. in a report on Monday, January 8th. Jefferies Group set a $50.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.01.
The Coca-Cola Co (NYSE:KO) opened at $47.16 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The stock has a market cap of $199,740.08, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 3.76 and a beta of 0.70. The Coca-Cola Co has a 12 month low of $40.22 and a 12 month high of $47.48.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $9.08 billion for 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 Coca-Cola’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. equities research analysts anticipate that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
About The Coca-Cola
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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