Fisher Asset Management LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 19.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,551 shares of the company’s stock after selling 9,199 shares during the period. Fisher Asset Management LLC’s holdings in Coca-Cola were worth $2,328,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Spectrum Management Group LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth $382,000. Gibson Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 82.5% during the 1st quarter. Gibson Wealth Advisors LLC now owns 3,650 shares of the company’s stock worth $226,000 after buying an additional 1,650 shares during the period. Beacon Harbor Wealth Advisors Inc. boosted its holdings in shares of Coca-Cola by 14.6% during the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 92,708 shares of the company’s stock worth $5,748,000 after buying an additional 11,819 shares during the period. James Hambro & Partners boosted its holdings in shares of Coca-Cola by 19.4% during the 1st quarter. James Hambro & Partners now owns 828,897 shares of the company’s stock worth $51,396,000 after buying an additional 134,582 shares during the period. Finally, Sound Financial Strategies Group LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth $1,619,000. 68.51% of the stock is owned by institutional investors.
Insider Transactions at Coca-Cola
In other news, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the sale, the vice president now owns 1,370 shares of the company’s stock, valued at approximately $87,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Carolyn Everson acquired 983 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were purchased at an average price of $62.29 per share, with a total value of $61,231.07. Following the acquisition, the director now directly owns 1,500 shares in the company, valued at $93,435. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kathy Loveless sold 2,512 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,768.00. Following the sale, the vice president now directly owns 1,370 shares in the company, valued at approximately $87,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,436 shares of company stock valued at $11,535,045. 0.98% of the stock is owned by insiders.
Coca-Cola Trading Down 1.4 %
Coca-Cola (NYSE:KO – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.46 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.
Analyst Ratings Changes
KO has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $70.00 price objective on shares of Coca-Cola in a report on Tuesday, July 26th. Credit Suisse Group set a $68.00 target price on shares of Coca-Cola in a research note on Wednesday, July 20th. Royal Bank of Canada set a $69.00 target price on shares of Coca-Cola in a research note on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “maintains” rating in a research note on Wednesday, July 27th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-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.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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