PDS Planning Inc Sells 62,021 Shares of The Coca-Cola Co (KO)
PDS Planning Inc decreased its position in The Coca-Cola Co (NYSE:KO) by 53.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,872 shares of the company’s stock after selling 62,021 shares during the period. The Coca-Cola comprises approximately 2.0% of PDS Planning Inc’s holdings, making the stock its 15th largest holding. PDS Planning Inc’s holdings in The Coca-Cola were worth $2,571,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of KO. Norges Bank acquired a new position in shares of The Coca-Cola in the 4th quarter worth approximately $1,717,527,000. Oregon Public Employees Retirement Fund raised its holdings in shares of The Coca-Cola by 4,577.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock worth $415,000 after buying an additional 19,215,135 shares in the last quarter. FMR LLC raised its holdings in shares of The Coca-Cola by 22.2% in the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after buying an additional 11,126,961 shares in the last quarter. BlackRock Inc. raised its holdings in shares of The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after buying an additional 7,272,015 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of The Coca-Cola by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. 66.81% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on KO shares. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Wednesday, May 8th. Goldman Sachs Group reissued a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a report on Thursday, February 14th. UBS Group increased their target price on The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Citigroup cut The Coca-Cola from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $50.00 in a report on Thursday, February 14th. Finally, Royal Bank of Canada restated a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a research report on Wednesday, February 13th. Fourteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.20.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The Coca-Cola’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. Analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.20%. The Coca-Cola’s payout ratio is 76.92%.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 14,094 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the transaction, the senior vice president now directly owns 108,551 shares in the company, valued at approximately $5,373,274.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Francisco Crespo sold 16,426 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the completion of the transaction, the insider now owns 77,109 shares in the company, valued at $3,778,341. The disclosure for this sale can be found here. Insiders sold a total of 66,840 shares of company stock worth $3,257,201 over the last quarter. Corporate insiders own 1.33% of the company’s stock.
The Coca-Cola Company Profile
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 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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