Centaurus Financial Inc. raised its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,790 shares of the company’s stock after buying an additional 1,734 shares during the period. Centaurus Financial Inc.’s holdings in Coca-Cola were worth $2,397,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of KO. FMR LLC boosted its position in shares of Coca-Cola by 20.0% during the second quarter. FMR LLC now owns 99,695,103 shares of the company’s stock worth $6,271,819,000 after buying an additional 16,606,701 shares during the period. BlackRock Inc. boosted its holdings in Coca-Cola by 1.7% in the third quarter. BlackRock Inc. now owns 301,952,085 shares of the company’s stock valued at $16,915,357,000 after purchasing an additional 4,994,047 shares during the period. Capital World Investors boosted its holdings in Coca-Cola by 61.4% in the first quarter. Capital World Investors now owns 10,764,084 shares of the company’s stock valued at $667,373,000 after purchasing an additional 4,095,881 shares during the period. Renaissance Technologies LLC boosted its holdings in Coca-Cola by 141.0% in the third quarter. Renaissance Technologies LLC now owns 6,834,434 shares of the company’s stock valued at $382,865,000 after purchasing an additional 3,998,128 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Coca-Cola by 1.1% in the third quarter. Vanguard Group Inc. now owns 363,258,425 shares of the company’s stock valued at $20,349,737,000 after purchasing an additional 3,864,004 shares during the period. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on KO shares. StockNews.com started coverage on Coca-Cola in a report on Thursday. They issued a “buy” rating for the company. JPMorgan Chase & Co. set a $67.00 target price on Coca-Cola in a report on Tuesday, February 14th. The Goldman Sachs Group raised their price target on Coca-Cola from $61.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. Morgan Stanley raised their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Finally, Citigroup assumed coverage on Coca-Cola in a research note on Thursday, February 16th. They issued a “buy” rating and a $68.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.70.
Coca-Cola Stock Performance
Shares of KO stock opened at $60.43 on Thursday. The stock has a market capitalization of $261.44 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 3.46 and a beta of 0.53. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $67.20. The stock’s 50-day moving average price is $60.38 and its 200 day moving average price is $60.43. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.41.
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Coca-Cola had a return on equity of 42.35% and a net margin of 22.19%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.6 EPS for the current year.
Coca-Cola Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 17th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, March 16th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.44. Coca-Cola’s payout ratio is 80.00%.
Insider Activity at Coca-Cola
In other Coca-Cola news, insider Brian John Smith sold 94,200 shares of Coca-Cola stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $63.02, for a total value of $5,936,484.00. Following the sale, the insider now owns 116,168 shares of the company’s stock, valued at approximately $7,320,907.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Brian John Smith sold 94,200 shares of Coca-Cola stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $63.02, for a total value of $5,936,484.00. Following the sale, the insider now owns 116,168 shares of the company’s stock, valued at approximately $7,320,907.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 34,875 shares of Coca-Cola stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $60.32, for a total value of $2,103,660.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at approximately $21,216,775.84. The disclosure for this sale can be found here. Insiders have sold 376,468 shares of company stock worth $23,074,307 in the last quarter. Company insiders own 0.98% of the company’s stock.
About Coca-Cola
The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.
Further Reading
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