Cullen Frost Bankers Inc. lowered its position in The Coca-Cola Co (NYSE:KO) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 332,339 shares of the company’s stock after selling 6,783 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in The Coca-Cola were worth $15,247,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Veritas Investment Management LLP bought a new stake in shares of The Coca-Cola during the 3rd quarter worth about $135,000. Spectrum Management Group Inc. bought a new stake in The Coca-Cola during the 3rd quarter valued at approximately $137,000. Legacy Advisors LLC bought a new stake in The Coca-Cola during the 3rd quarter valued at approximately $139,000. Almanack Investment Partners LLC. bought a new stake in The Coca-Cola during the 2nd quarter valued at approximately $142,000. Finally, Shine Investment Advisory Services Inc. boosted its stake in The Coca-Cola by 102.2% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock valued at $143,000 after purchasing an additional 1,610 shares during the period. Hedge funds and other institutional investors own 66.16% of the company’s stock.
In other news, insider Robert Edward Long sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the transaction, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value 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 $5,713,185.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,640 shares of company stock valued at $5,800,776. 1.48% of the stock is currently owned by insiders.
The Coca-Cola (NYSE:KO) last issued its earnings results on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same period in the prior year, the firm posted $0.37 EPS. The Coca-Cola’s quarterly revenue was down 20.2% compared to the same quarter last year. research analysts predict that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost 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 3.50%. The Coca-Cola’s dividend payout ratio is presently 548.15%.
Several analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $49.00 target price on shares of The Coca-Cola in a research note on Friday, December 22nd. Goldman Sachs Group set a $49.00 target price on The Coca-Cola and gave the company a “sell” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a target price (up previously from ) on shares of The Coca-Cola in a research note on Friday, February 16th. Credit Suisse Group restated a “buy” rating on shares of The Coca-Cola in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.21.
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The Coca-Cola Company 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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