Prudential Financial Inc. Grows Holdings in The Coca-Cola Co (KO)
Prudential Financial Inc. raised its position in The Coca-Cola Co (NYSE:KO) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,169,156 shares of the company’s stock after acquiring an additional 428,305 shares during the quarter. The Coca-Cola makes up approximately 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 26th biggest position. Prudential Financial Inc.’s holdings in The Coca-Cola were worth $367,694,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Advisors Inc. grew its position in shares of The Coca-Cola by 0.3% during the second quarter. Cambridge Advisors Inc. now owns 8,137 shares of the company’s stock worth $365,000 after buying an additional 26 shares in the last quarter. Lyell Wealth Management LP grew its position in shares of The Coca-Cola by 0.6% during the second quarter. Lyell Wealth Management LP now owns 7,950 shares of the company’s stock worth $359,000 after buying an additional 50 shares in the last quarter. Regentatlantic Capital LLC grew its position in shares of The Coca-Cola by 0.4% during the second quarter. Regentatlantic Capital LLC now owns 15,826 shares of the company’s stock worth $710,000 after buying an additional 64 shares in the last quarter. Vigilant Capital Management LLC grew its position in shares of The Coca-Cola by 1.9% during the second quarter. Vigilant Capital Management LLC now owns 3,593 shares of the company’s stock worth $161,000 after buying an additional 68 shares in the last quarter. Finally, Atlantic Trust LLC grew its position in shares of The Coca-Cola by 1.4% during the second quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock worth $283,000 after buying an additional 89 shares in the last quarter. 65.30% of the stock is owned by institutional investors.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the sale, the insider now owns 320,013 shares in the company, valued at $14,749,399.17. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is currently owned by insiders.
KO has been the subject of several recent analyst reports. Wells Fargo & Co upgraded The Coca-Cola from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $46.72 to $51.00 in a research note on Tuesday, November 14th. Vetr upgraded The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Deutsche Bank initiated coverage on The Coca-Cola in a research note on Wednesday, December 13th. They set a “buy” rating and a $52.00 target price for the company. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, October 27th. Finally, Royal Bank of Canada set a $49.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.59.
Shares of The Coca-Cola Co (NYSE:KO) opened at $46.23 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The Coca-Cola Co has a 52 week low of $40.22 and a 52 week high of $47.48. The firm has a market capitalization of $196,970.00, a P/E ratio of 44.03, a price-to-earnings-growth ratio of 3.75 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. equities research analysts expect that The Coca-Cola Co will post 1.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is currently 140.95%.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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