Stokes & Hubbell Capital Management LLC trimmed its stake in The Coca-Cola Co (NYSE:KO) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,412 shares of the company’s stock after selling 667 shares during the quarter. Stokes & Hubbell Capital Management LLC’s holdings in The Coca-Cola were worth $1,519,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of KO. Prime Capital Investment Advisors LLC bought a new position in shares of The Coca-Cola during the 1st quarter worth approximately $28,000. Orrstown Financial Services Inc. boosted its stake in shares of The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares during the period. Financial Gravity Wealth Inc. bought a new position in shares of The Coca-Cola during the 1st quarter worth approximately $35,000. Transamerica Financial Advisors Inc. boosted its stake in shares of The Coca-Cola by 567.7% during the 4th 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 period. Finally, Financial Gravity Companies Inc. bought a new position in shares of The Coca-Cola during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 66.83% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, April 26th. Morgan Stanley upgraded The Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $55.00 in a research note on Tuesday, May 14th. UBS Group boosted their price target on The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co boosted their price target on The Coca-Cola from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $51.05.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. On average, research analysts expect 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, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a yield of 3.13%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In other The Coca-Cola news, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $49.00, for a total value of $804,874.00. Following the completion of the transaction, the insider now directly owns 77,109 shares of the company’s stock, valued at approximately $3,778,341. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer K. Mann sold 9,000 shares of The Coca-Cola stock in a transaction on Friday, June 7th. The shares were sold at an average price of $51.88, for a total value of $466,920.00. Following the completion of the transaction, the insider now directly owns 41,049 shares of the company’s stock, valued at $2,129,622.12. The disclosure for this sale can be found here. Insiders sold a total of 316,600 shares of company stock valued at $15,760,365 over the last ninety days. Insiders own 1.33% of the company’s stock.
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The Coca-Cola Profile
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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