Callahan Advisors LLC lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 44,278 shares of the company’s stock after selling 2,182 shares during the period. Callahan Advisors LLC’s holdings in The Coca-Cola were worth $2,031,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Northstar Investment Advisors LLC raised its stake in The Coca-Cola by 2.6% during the fourth quarter. Northstar Investment Advisors LLC now owns 216,423 shares of the company’s stock worth $9,929,000 after purchasing an additional 5,473 shares during the period. Tower Bridge Advisors raised its stake in The Coca-Cola by 13.8% during the fourth quarter. Tower Bridge Advisors now owns 48,474 shares of the company’s stock worth $2,224,000 after purchasing an additional 5,885 shares during the period. Conning Inc. raised its stake in The Coca-Cola by 3.7% during the fourth quarter. Conning Inc. now owns 862,180 shares of the company’s stock worth $39,557,000 after purchasing an additional 30,882 shares during the period. Harbor Advisory Corp MA purchased a new position in The Coca-Cola during the fourth quarter worth approximately $259,000. Finally, Chessman Wealth Strategies RIA purchased a new position in The Coca-Cola during the fourth quarter worth approximately $256,000. 65.30% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on KO. Goldman Sachs Group set a $45.00 price target on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Susquehanna Bancshares set a $41.00 price target on shares of The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co raised shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and raised their target price for the company from $46.72 to $51.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.21.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The firm had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.36 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. analysts expect that The Coca-Cola Co will post 2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a dividend of $0.39 per share. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 annualized dividend and a yield of 3.48%. The Coca-Cola’s payout ratio is 134.55%.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the transaction, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 122,640 shares of company stock worth $5,800,776 in the last ninety days. 1.51% of the stock is currently owned by insiders.
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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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