The Coca-Cola Company (KO) Position Cut by Texan Capital Management
Texan Capital Management reduced its position in The Coca-Cola Company (NYSE:KO) by 9.9% in the 4th quarter, Holdings Channel reports. The firm owned 10,789 shares of the company’s stock after selling 1,188 shares during the period. Texan Capital Management’s holdings in The Coca-Cola were worth $495,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Atlantic Trust LLC lifted its stake in The Coca-Cola by 1.4% in the 2nd quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock valued at $283,000 after purchasing an additional 89 shares during the last quarter. Noesis Capital Mangement Corp raised its holdings in The Coca-Cola by 1.0% in the 2nd quarter. Noesis Capital Mangement Corp now owns 8,680 shares of the company’s stock valued at $389,000 after acquiring an additional 90 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in The Coca-Cola by 0.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 16,963 shares of the company’s stock valued at $753,000 after acquiring an additional 95 shares during the period. Pacific Center for Financial Services raised its holdings in The Coca-Cola by 1.4% in the 2nd quarter. Pacific Center for Financial Services now owns 7,422 shares of the company’s stock valued at $333,000 after acquiring an additional 100 shares during the period. Finally, Monetary Management Group Inc. raised its holdings in The Coca-Cola by 1.0% in the 2nd quarter. Monetary Management Group Inc. now owns 10,625 shares of the company’s stock valued at $477,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 66.12% of the company’s stock.
In other The Coca-Cola news, insider Jennifer K. Mann sold 1,883 shares of The Coca-Cola stock in a transaction on Monday, March 12th. The shares were sold at an average price of $45.00, for a total value of $84,735.00. Following the completion of the sale, the insider now directly owns 98,995 shares of the company’s stock, valued at $4,454,775. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the completion of the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold 124,523 shares of company stock valued at $5,885,511 in the last three months. 1.48% of the stock is owned by insiders.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The Coca-Cola’s revenue was down 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. equities research analysts expect that The Coca-Cola Company will post 2.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio (DPR) is currently 577.78%.
Several research firms have weighed in on KO. Stifel Nicolaus reissued a “hold” rating and issued a $49.00 price target on shares of The Coca-Cola in a report on Friday, December 22nd. Goldman Sachs set a $49.00 target price on shares of The Coca-Cola and gave the stock a “sell” rating in a report on Wednesday, January 10th. Barclays reaffirmed a “neutral” rating and set a $45.00 target price on shares of The Coca-Cola in a report on Thursday. Morningstar set a $48.50 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Susquehanna Bancshares set a $45.00 target price on shares of The Coca-Cola and gave the stock a “hold” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.21.
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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 water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based 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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