Coca-Cola Co (The) (NYSE:KO) is Raymond James Trust N.A.’s 4th Largest Position
Raymond James Trust N.A. lifted its stake in Coca-Cola Co (The) (NYSE:KO) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 986,782 shares of the company’s stock after purchasing an additional 219,463 shares during the quarter. Coca-Cola accounts for approximately 2.1% of Raymond James Trust N.A.’s holdings, making the stock its 4th biggest position. Raymond James Trust N.A.’s holdings in Coca-Cola were worth $48,717,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $25,000. Demars Financial Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $27,000. Evolution Wealth Advisors LLC raised its position in shares of Coca-Cola by 112.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 332 shares during the last quarter. Anderson Fisher LLC raised its position in Coca-Cola by 26.5% in the 2nd quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock worth $51,000 after buying an additional 239 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its position in Coca-Cola by 22.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock worth $54,000 after buying an additional 219 shares during the last quarter. 65.86% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David B. Weinberg sold 98,905 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the completion of the transaction, the director now directly owns 355,214 shares in the company, valued at approximately $17,227,879. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert Edward Long sold 37,534 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total value of $1,809,514.14. Following the completion of the transaction, the senior vice president now owns 82,502 shares of the company’s stock, valued at $3,977,421.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 836,439 shares of company stock valued at $40,380,407. 1.01% of the stock is currently owned by corporate insiders.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The firm’s revenue was down 28.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Equities research analysts predict that Coca-Cola Co will post 1.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.28%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.
A number of brokerages have weighed in on KO. Morgan Stanley raised Coca-Cola from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price for the company. in a research report on Tuesday, September 22nd. Finally, Bank of America reissued a “buy” rating and issued a $53.00 target price on shares of Coca-Cola in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.19.
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 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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