Clifford Swan Investment Counsel LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,252 shares of the company’s stock after acquiring an additional 11,310 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in The Coca-Cola were worth $4,691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Veritas Investment Management LLP bought a new stake in The Coca-Cola in the 3rd quarter valued at $135,000. Spectrum Management Group Inc. bought a new stake in The Coca-Cola in the 3rd quarter valued at $137,000. Legacy Advisors LLC bought a new stake in The Coca-Cola in the 3rd quarter valued at $139,000. Almanack Investment Partners LLC. bought a new stake in shares of The Coca-Cola in the 2nd quarter worth about $142,000. Finally, Shine Investment Advisory Services Inc. increased its holdings in shares of The Coca-Cola by 102.2% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock worth $143,000 after buying an additional 1,610 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.
A number of analysts have recently weighed in on the stock. Goldman Sachs set a $49.00 target price on shares of The Coca-Cola and gave the stock a “sell” rating in a report on Wednesday, January 10th. Stifel Nicolaus restated a “hold” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Friday, December 22nd. JPMorgan Chase restated a “neutral” rating and issued a target price (up from ) on shares of The Coca-Cola in a report on Friday, February 16th. Credit Suisse Group restated a “buy” rating on shares of The Coca-Cola in a report on Tuesday, February 13th. Finally, Jefferies Group restated a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.21.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.36 billion. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. research analysts expect that The Coca-Cola Company will post 2.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.55%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, March 14th. The Coca-Cola’s payout ratio is 81.68%.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the sale, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ed Hays sold 84,400 shares of the business’s stock in a transaction dated 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. Over the last three months, insiders sold 124,523 shares of company stock valued at $5,885,511. 1.48% of the stock is owned by corporate insiders.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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