Chevy Chase Trust Holdings Inc. lessened its stake in shares of The Coca-Cola Co (NYSE:KO) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 3,544,868 shares of the company’s stock after selling 23,374 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in The Coca-Cola were worth $162,634,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of KO. Atlantic Trust LLC raised its stake in The Coca-Cola by 1.4% in the second quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock worth $283,000 after buying an additional 89 shares in the last quarter. Noesis Capital Mangement Corp raised its stake in The Coca-Cola by 1.0% in the second quarter. Noesis Capital Mangement Corp now owns 8,680 shares of the company’s stock worth $389,000 after buying an additional 90 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in The Coca-Cola by 0.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,963 shares of the company’s stock worth $753,000 after buying an additional 95 shares in the last quarter. Pacific Center for Financial Services raised its stake in The Coca-Cola by 1.4% in the second quarter. Pacific Center for Financial Services now owns 7,422 shares of the company’s stock worth $333,000 after buying an additional 100 shares in the last quarter. Finally, Monetary Management Group Inc. raised its stake in The Coca-Cola by 1.0% in the second quarter. Monetary Management Group Inc. now owns 10,625 shares of the company’s stock worth $477,000 after buying an additional 100 shares in the last quarter. 65.13% of the stock is owned by hedge funds and other institutional investors.
KO has been the subject of a number of recent research reports. Royal Bank of Canada set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Goldman Sachs Group set a $45.00 price objective on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Evercore ISI raised shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $46.04 to $55.00 in a research note on Friday, January 12th. Susquehanna Bancshares set a $41.00 price objective on shares of The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Finally, Wells Fargo & Co raised shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.24.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. analysts predict that The Coca-Cola Co will post 2.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.54%. The Coca-Cola’s payout ratio is 134.55%.
In other news, insider Robert Edward Long sold 15,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ed Hays sold 84,400 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $47.50, for a total transaction of $4,009,000.00. The disclosure for this sale can be found here. Insiders have sold 122,640 shares of company stock worth $5,800,776 over the last three months. Corporate insiders own 1.51% of the company’s stock.
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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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