Jacobs & Co. CA raised its holdings in The Coca-Cola Company (NYSE:KO) by 29.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 167,548 shares of the company’s stock after buying an additional 38,390 shares during the quarter. Jacobs & Co. CA’s holdings in The Coca-Cola were worth $8,831,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bellwether Advisors LLC acquired a new stake in The Coca-Cola in the 4th quarter valued at approximately $25,000. McClarren Financial Advisors Inc. acquired a new stake in The Coca-Cola in the 4th quarter valued at approximately $26,000. Merrion Investment Management Co LLC acquired a new stake in The Coca-Cola in the 4th quarter valued at approximately $33,000. Alpha DNA Investment Management LLC acquired a new stake in shares of The Coca-Cola during the 4th quarter worth approximately $35,000. Finally, Syverson Strege & Co acquired a new stake in shares of The Coca-Cola during the 4th quarter worth approximately $38,000. 65.99% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on KO. Sanford C. Bernstein began coverage on The Coca-Cola in a report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price objective on the stock. Morgan Stanley decreased their price objective on The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, January 14th. Deutsche Bank Aktiengesellschaft lowered The Coca-Cola from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $55.00 in a report on Tuesday, January 5th. Royal Bank of Canada raised The Coca-Cola from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $60.00 in a report on Monday, March 15th. Finally, HSBC decreased their price objective on The Coca-Cola from $61.00 to $58.00 in a report on Wednesday, January 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $54.86.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that The Coca-Cola Company will post 1.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.15%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s payout ratio is presently 79.62%.
In other news, insider Nikolaos Koumettis sold 60,000 shares of the business’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $53.30, for a total transaction of $3,198,000.00. Following the completion of the sale, the insider now owns 145,011 shares in the company, valued at $7,729,086.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alfredo Rivera sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the sale, the insider now owns 62,000 shares of the company’s stock, valued at approximately $3,171,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,501 shares of company stock valued at $4,246,280. 1.01% of the stock is currently owned by corporate insiders.
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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