Curbstone Financial Management Corp boosted its position in The Coca-Cola Company (NYSE:KO) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,450 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Curbstone Financial Management Corp’s holdings in The Coca-Cola were worth $1,500,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Bellwether Advisors LLC purchased a new position in The Coca-Cola during the fourth quarter worth $25,000. McClarren Financial Advisors Inc. purchased a new position in The Coca-Cola during the fourth quarter worth $26,000. Merrion Investment Management Co LLC purchased a new position in The Coca-Cola during the fourth quarter worth $33,000. Alpha DNA Investment Management LLC purchased a new position in The Coca-Cola during the fourth quarter worth $35,000. Finally, Syverson Strege & Co purchased a new position in The Coca-Cola during the fourth quarter worth $38,000. 65.99% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on KO shares. Sanford C. Bernstein started coverage on The Coca-Cola in a research report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price target for the company. JPMorgan Chase & Co. downgraded The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Thursday, January 7th. Morgan Stanley lowered their price objective on The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, January 14th. Royal Bank of Canada raised The Coca-Cola from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $60.00 in a research report on Monday, March 15th. Finally, Guggenheim downgraded The Coca-Cola from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The Coca-Cola currently has a consensus rating of “Buy” and a consensus price target of $54.86.
The Coca-Cola stock traded up $0.01 during midday trading on Thursday, reaching $53.29. The stock had a trading volume of 90,604 shares, compared to its average volume of 19,513,369. The Coca-Cola Company has a twelve month low of $43.20 and a twelve month high of $54.93. The stock has a market capitalization of $229.64 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 5.70 and a beta of 0.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The stock’s 50-day simple moving average is $51.12 and its 200 day simple moving average is $51.00.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The firm had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Company will post 1.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, March 12th. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s payout ratio is currently 79.62%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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