MV Capital Management Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 8.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,341 shares of the company’s stock after selling 720 shares during the quarter. MV Capital Management Inc.’s holdings in The Coca-Cola were worth $387,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its position in The Coca-Cola by 16.3% in the fourth quarter. FMR LLC now owns 56,240,715 shares of the company’s stock worth $3,084,241,000 after buying an additional 7,887,519 shares in the last quarter. Morgan Stanley increased its position in The Coca-Cola by 7.5% in the fourth quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after buying an additional 3,397,649 shares in the last quarter. Norges Bank purchased a new stake in The Coca-Cola in the fourth quarter worth about $2,345,618,000. Bank of New York Mellon Corp increased its position in The Coca-Cola by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after buying an additional 3,818,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of The Coca-Cola by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock worth $2,077,505,000 after purchasing an additional 1,995,835 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.
In related news, insider Nikolaos Koumettis sold 30,000 shares of the business’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $54.81, for a total transaction of $1,644,300.00. Following the transaction, the insider now directly owns 145,011 shares in the company, valued at approximately $7,948,052.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $50.46, for a total value of $25,280.46. Following the transaction, the vice president now owns 10,224 shares in the company, valued at $515,903.04. The disclosure for this sale can be found here. Insiders sold a total of 255,893 shares of company stock worth $13,956,239 over the last quarter. Company insiders own 1.01% of the company’s stock.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Sunday, April 18th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $9 billion for the quarter, compared to the consensus estimate of $8.58 billion. The Coca-Cola had a return on equity of 41.48% and a net margin of 21.59%. The Coca-Cola’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.01%. The Coca-Cola’s dividend payout ratio is presently 86.15%.
KO has been the subject of several research analyst reports. Royal Bank of Canada upgraded The Coca-Cola from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Monday, March 8th. Evercore ISI increased their target price on The Coca-Cola from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Morgan Stanley raised their price target on The Coca-Cola from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, June 4th. Wolfe Research started coverage on The Coca-Cola in a report on Monday, April 12th. They set a “peer perform” rating for the company. Finally, Citigroup raised their price target on The Coca-Cola from $54.00 to $57.00 in a report on Tuesday, April 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.00.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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