Plimoth Trust Co. LLC Reduces Holdings in The Coca-Cola Co (KO)
Plimoth Trust Co. LLC decreased its position in shares of The Coca-Cola Co (NYSE:KO) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,694 shares of the company’s stock after selling 6,540 shares during the quarter. Plimoth Trust Co. LLC’s holdings in The Coca-Cola were worth $2,095,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of The Coca-Cola by 2.9% during the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. FMR LLC lifted its position in shares of The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares during the period. Northern Trust Corp lifted its position in shares of The Coca-Cola by 3.6% during the 4th quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock valued at $2,394,872,000 after acquiring an additional 1,771,500 shares during the period. Geode Capital Management LLC lifted its position in shares of The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. Finally, Norges Bank acquired a new stake in shares of The Coca-Cola during the 4th quarter valued at approximately $1,717,527,000. Institutional investors and hedge funds own 66.81% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, April 26th. Morgan Stanley upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $55.00 in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $51.00 price target on shares of The Coca-Cola in a research report on Thursday, February 14th. Deutsche Bank lifted their price target on shares of The Coca-Cola from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group reiterated a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Friday, February 15th. Fourteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $51.20.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.89 billion. During the same period last year, the company posted $0.47 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.26%. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
In other The Coca-Cola news, SVP Nancy Quan sold 23,320 shares of The Coca-Cola stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the sale, the senior vice president now directly owns 165,049 shares of the company’s stock, valued at approximately $7,914,099.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francisco Crespo sold 16,426 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $49.00, for a total transaction of $804,874.00. Following the completion of the sale, the insider now directly owns 77,109 shares of the company’s stock, valued at $3,778,341. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,840 shares of company stock valued at $3,257,201. Corporate insiders own 1.33% 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 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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