State of Wisconsin Investment Board lessened its stake in The Coca-Cola Co (NYSE:KO) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,550,496 shares of the company’s stock after selling 184,206 shares during the quarter. The Coca-Cola comprises about 0.6% of State of Wisconsin Investment Board’s holdings, making the stock its 29th largest holding. State of Wisconsin Investment Board owned 0.11% of The Coca-Cola worth $197,628,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Princeton Capital Management LLC purchased a new position in shares of The Coca-Cola during the first quarter worth $100,000. Santori & Peters Inc. purchased a new position in shares of The Coca-Cola during the fourth quarter worth $127,000. Goodman Financial Corp purchased a new position in shares of The Coca-Cola during the fourth quarter worth $143,000. First Dallas Securities Inc. purchased a new position in shares of The Coca-Cola during the fourth quarter worth $155,000. Finally, Avestar Capital LLC purchased a new position in shares of The Coca-Cola during the fourth quarter worth $160,000. 65.68% of the stock is owned by institutional investors.
NYSE KO traded down $0.21 on Thursday, hitting $43.58. 12,694,738 shares of the company’s stock were exchanged, compared to its average volume of 12,709,714. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 1.38. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.62. The stock has a market capitalization of $188.25 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.58 and a beta of 0.73.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The business had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.32 billion. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. equities analysts forecast that The Coca-Cola Co will post 2.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, June 14th. The Coca-Cola’s payout ratio is currently 81.68%.
A number of research analysts recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target (up from $47.00) on shares of The Coca-Cola in a report on Friday, February 16th. Jefferies Financial Group reaffirmed a “neutral” rating and set a $49.00 price target on shares of The Coca-Cola in a report on Tuesday, February 20th. Morgan Stanley reaffirmed a “neutral” rating and set a $49.00 price target (up from $48.00) on shares of The Coca-Cola in a report on Monday, February 19th. Societe Generale reaffirmed a “neutral” rating and set a $48.80 price target on shares of The Coca-Cola in a report on Monday, February 19th. Finally, Goldman Sachs Group set a $49.00 price target on The Coca-Cola and gave the stock a “sell” rating in a report on Friday, February 16th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.42.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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