Pratt Collard Advisory Partners LLC trimmed its position in shares of The Coca-Cola Co (NYSE:KO) by 7.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,314 shares of the company’s stock after selling 1,000 shares during the period. Pratt Collard Advisory Partners LLC’s holdings in The Coca-Cola were worth $678,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in KO. Norges Bank purchased a new stake in The Coca-Cola in the fourth quarter worth $1,717,527,000. FMR LLC boosted its stake in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after buying an additional 11,126,961 shares in the last quarter. BlackRock Inc. boosted its stake in The Coca-Cola by 2.9% in the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after buying an additional 7,272,015 shares in the last quarter. Geode Capital Management LLC boosted its stake in The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. Finally, Avalon Advisors LLC boosted its stake in The Coca-Cola by 203.4% in the fourth quarter. Avalon Advisors LLC now owns 3,018,294 shares of the company’s stock worth $142,916,000 after buying an additional 2,023,309 shares in the last quarter. Hedge funds and other institutional investors own 66.81% of the company’s stock.
In other news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the sale, the insider now directly owns 41,175 shares of the company’s stock, valued at $2,202,039. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bernhard Goepelt sold 13,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total value of $636,480.00. Following the completion of the sale, the vice president now directly owns 151,504 shares in the company, valued at $7,417,635.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 339,726 shares of company stock valued at $16,996,023. 1.33% of the stock is owned by corporate insiders.
Several analysts have weighed in on KO shares. Credit Suisse Group boosted their price objective on Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets lowered their price objective on Rogers Communications from C$81.00 to C$79.00 in a research report on Wednesday. Deutsche Bank reiterated a “buy” rating on shares of Continental in a research report on Wednesday. Bank of America restated a “buy” rating and set a $90.00 target price (down previously from $95.00) on shares of Hexcel in a report on Wednesday. Finally, Royal Bank of Canada upgraded Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $12.00 to $14.00 in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and an average price target of $53.45.
KO traded up $0.94 during trading on Friday, reaching $54.01. The stock had a trading volume of 2,482,622 shares, compared to its average volume of 10,927,592. The firm’s 50 day simple moving average is $51.71. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $229.43 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.66 and a beta of 0.50. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. Research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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