Means Investment CO. Inc. decreased its stake in The Coca-Cola Co (NYSE:KO) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,806 shares of the company’s stock after selling 259 shares during the quarter. Means Investment CO. Inc.’s holdings in The Coca-Cola were worth $506,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orrstown Financial Services Inc. grew its position in shares of The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after purchasing an additional 517 shares during the period. Transamerica Financial Advisors Inc. boosted its position in The Coca-Cola by 567.7% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock worth $41,000 after acquiring an additional 721 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in The Coca-Cola during the fourth quarter worth about $45,000. PRW Wealth Management LLC acquired a new position in The Coca-Cola during the fourth quarter worth about $50,000. Finally, Country Trust Bank boosted its position in The Coca-Cola by 2,506.7% during the fourth quarter. Country Trust Bank now owns 1,173 shares of the company’s stock worth $56,000 after acquiring an additional 1,128 shares during the last quarter. Institutional investors and hedge funds own 67.72% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a research report on Wednesday, February 13th. Barclays set a $54.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 price target on shares of The Coca-Cola in a research report on Tuesday, April 23rd. Fourteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $51.20.
Shares of KO stock opened at $49.61 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The Coca-Cola Co has a 12 month low of $41.93 and a 12 month high of $50.84. The stock has a market cap of $211.63 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 3.27 and a beta of 0.53.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The Coca-Cola’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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