Boston Family Office LLC reduced its stake in The Coca-Cola Co (NYSE:KO) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 80,465 shares of the company’s stock after selling 1,650 shares during the quarter. Boston Family Office LLC’s holdings in The Coca-Cola were worth $3,717,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of KO. C WorldWide Group Holding A S boosted its position in shares of The Coca-Cola by 873.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after purchasing an additional 6,846,641 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $206,654,000. Natixis boosted its position in shares of The Coca-Cola by 218.3% in the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after purchasing an additional 2,798,257 shares in the last quarter. Bank of Montreal Can boosted its position in shares of The Coca-Cola by 47.4% in the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after purchasing an additional 1,907,604 shares in the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $78,078,000. 65.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Morningstar set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday. Macquarie reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of The Coca-Cola in a research report on Thursday, November 1st. Jefferies Financial Group upped their price objective on The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. HSBC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 31st. Finally, Morgan Stanley upped their price objective on The Coca-Cola from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.22.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. As a group, analysts forecast that The Coca-Cola Co will post 2.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. The Coca-Cola’s payout ratio is 81.68%.
In other news, insider Brian John Smith sold 43,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the transaction, the insider now directly owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. Insiders have sold a total of 61,754 shares of company stock worth $2,954,800 over the last three months. Insiders own 1.48% of the company’s stock.
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The Coca-Cola Company 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 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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