Stonebridge Capital Management Inc. raised its stake in The Coca-Cola Company (NYSE:KO) by 0.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 142,544 shares of the company’s stock after buying an additional 400 shares during the period. The Coca-Cola comprises 2.9% of Stonebridge Capital Management Inc.’s holdings, making the stock its 10th largest position. Stonebridge Capital Management Inc.’s holdings in The Coca-Cola were worth $7,513,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in KO. United Bank grew its holdings in shares of The Coca-Cola by 26.0% during the third quarter. United Bank now owns 67,140 shares of the company’s stock worth $3,315,000 after buying an additional 13,865 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of The Coca-Cola by 0.3% during the third quarter. Great West Life Assurance Co. Can now owns 3,744,579 shares of the company’s stock worth $184,732,000 after buying an additional 11,183 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of The Coca-Cola during the third quarter worth about $244,000. Lombard Odier Asset Management Switzerland SA boosted its position in The Coca-Cola by 16.3% during the third quarter. Lombard Odier Asset Management Switzerland SA now owns 21,468 shares of the company’s stock valued at $1,060,000 after purchasing an additional 3,009 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in The Coca-Cola by 9.1% during the third quarter. AQR Capital Management LLC now owns 3,126,795 shares of the company’s stock valued at $154,339,000 after purchasing an additional 260,571 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.
In other The Coca-Cola news, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $50.46, for a total transaction of $25,280.46. Following the sale, the vice president now directly owns 10,224 shares of the company’s stock, valued at approximately $515,903.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alfredo Rivera sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the sale, the insider now directly owns 62,000 shares in the company, valued at $3,171,300. The disclosure for this sale can be found here. Insiders have sold a total of 80,501 shares of company stock worth $4,246,280 over the last ninety days. 1.01% of the stock is currently owned by insiders.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.62 billion. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 15th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, March 12th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. The Coca-Cola’s payout ratio is 79.62%.
Several brokerages have recently weighed in on KO. Royal Bank of Canada raised shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $60.00 in a research report on Monday, March 15th. HSBC cut their target price on shares of The Coca-Cola from $61.00 to $58.00 in a research note on Wednesday, January 13th. Guggenheim cut shares of The Coca-Cola from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 5th. JPMorgan Chase & Co. cut shares of The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Thursday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The Coca-Cola from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $55.00 in a research note on Tuesday, January 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.86.
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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