Payden & Rygel lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 79.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,800 shares of the company’s stock after selling 313,900 shares during the period. Payden & Rygel’s holdings in The Coca-Cola were worth $3,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Veritas Investment Management LLP purchased a new stake in shares of The Coca-Cola during the 3rd quarter worth $135,000. Spectrum Management Group Inc. purchased a new stake in shares of The Coca-Cola during the 3rd quarter worth $137,000. Legacy Advisors LLC purchased a new stake in shares of The Coca-Cola during the 3rd quarter worth $139,000. Almanack Investment Partners LLC. purchased a new stake in shares of The Coca-Cola during the 2nd quarter worth $142,000. Finally, Shine Investment Advisory Services Inc. lifted its position in shares of The Coca-Cola by 102.2% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock worth $143,000 after purchasing an additional 1,610 shares during the last quarter. Hedge funds and other institutional investors own 65.34% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Susquehanna Bancshares set a $45.00 price target on shares of The Coca-Cola and gave the company a “hold” rating in a research report on Monday. Stifel Nicolaus restated a “hold” rating and issued a $49.00 price objective on shares of The Coca-Cola in a research note on Friday, December 22nd. Goldman Sachs Group set a $49.00 price objective on shares of The Coca-Cola and gave the company a “sell” rating in a research note on Wednesday, January 10th. Credit Suisse Group restated a “buy” rating on shares of The Coca-Cola in a research note on Tuesday. Finally, Vetr lowered shares of The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 price target on the stock. in a research note on Monday, January 8th. 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 company currently has an average rating of “Hold” and an average target price of $49.01.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.50%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is 140.95%.
In related news, insider Ed Hays sold 84,400 shares of The Coca-Cola stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $47.50, for a total value of $4,009,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the transaction, the insider now directly owns 24,673 shares in the company, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 122,640 shares of company stock worth $5,800,776 over the last quarter. 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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