Schroder Investment Management Group cut its stake in The Coca-Cola Co (NYSE:KO) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,310,390 shares of the company’s stock after selling 845,910 shares during the period. Schroder Investment Management Group owned 0.08% of The Coca-Cola worth $148,404,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in The Coca-Cola by 3.0% in the 2nd quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock worth $735,069,000 after purchasing an additional 470,700 shares in the last quarter. Summit Financial Group Inc. acquired a new stake in The Coca-Cola in the 2nd quarter worth approximately $2,779,000. Global X Management Co. LLC lifted its stake in The Coca-Cola by 6.0% during the 2nd quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after acquiring an additional 12,513 shares during the period. BB&T Corp lifted its stake in The Coca-Cola by 9.5% during the 2nd quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after acquiring an additional 78,932 shares during the period. Finally, Keystone Financial Planning Inc. lifted its stake in The Coca-Cola by 2.1% during the 1st quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock valued at $5,111,000 after acquiring an additional 2,465 shares during the period. Institutional investors own 65.30% of the company’s stock.
Several analysts have commented on the stock. Susquehanna Bancshares set a $41.00 price objective on shares of The Coca-Cola and gave the company a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group set a $45.00 price objective on shares of The Coca-Cola and gave the company a “sell” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $46.72 to $51.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of “Hold” and a consensus price target of $48.47.
The Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The firm had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. equities research analysts forecast that The Coca-Cola Co will post 1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s payout ratio is presently 140.95%.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the sale, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.51% of the stock is currently owned by insiders.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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