Coca-Cola Co (The) (NYSE:KO) Stake Raised by Raymond James Trust N.A.
Raymond James Trust N.A. raised its holdings in Coca-Cola Co (The) (NYSE:KO) by 28.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 986,782 shares of the company’s stock after purchasing an additional 219,463 shares during the quarter. Coca-Cola accounts for 2.1% of Raymond James Trust N.A.’s holdings, making the stock its 4th largest holding. Raymond James Trust N.A.’s holdings in Coca-Cola were worth $48,717,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of KO. Costello Asset Management INC purchased a new stake in Coca-Cola in the second quarter valued at $25,000. Demars Financial Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. Evolution Wealth Advisors LLC raised its holdings 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 valued at $28,000 after buying an additional 332 shares during the period. Anderson Fisher LLC raised its holdings in shares of Coca-Cola by 26.5% in the 2nd quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock valued at $51,000 after buying an additional 239 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in shares of Coca-Cola by 22.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after buying an additional 219 shares during the period. Institutional investors own 65.86% of the company’s stock.
Several research firms recently issued reports on KO. Bank of America reiterated a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a report on Friday, July 17th. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a report on Tuesday, September 22nd. Finally, Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $52.00 to $54.00 in a report on Wednesday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Coca-Cola currently has an average rating of “Buy” and a consensus price target of $54.19.
Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business 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 company’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. On average, equities analysts forecast that Coca-Cola Co will post 1.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is 77.73%.
In related news, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $48.02, for a total value of $9,604,000.00. Following the sale, the director now owns 355,214 shares in the company, valued at approximately $17,057,376.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 sale, the senior vice president now owns 82,502 shares in the company, valued at approximately $3,977,421.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 836,439 shares of company stock valued at $40,380,407. Company insiders own 1.01% of the company’s stock.
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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