Hyman Charles D lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,508 shares of the company’s stock after purchasing an additional 1,175 shares during the quarter. Hyman Charles D’s holdings in The Coca-Cola were worth $13,679,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GW Henssler & Associates Ltd. raised its stake in shares of The Coca-Cola by 2.4% during the first quarter. GW Henssler & Associates Ltd. now owns 294,873 shares of the company’s stock valued at $15,543,000 after purchasing an additional 6,944 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its position in The Coca-Cola by 9.4% in the first quarter. Regent Peak Wealth Advisors LLC now owns 54,369 shares of the company’s stock worth $2,865,000 after acquiring an additional 4,668 shares in the last quarter. JustInvest LLC raised its position in The Coca-Cola by 60.6% in the first quarter. JustInvest LLC now owns 39,528 shares of the company’s stock worth $2,084,000 after acquiring an additional 14,922 shares in the last quarter. Crossvault Capital Management LLC raised its position in The Coca-Cola by 5.7% in the first quarter. Crossvault Capital Management LLC now owns 63,875 shares of the company’s stock worth $3,367,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC raised its position in The Coca-Cola by 14.4% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 38,706 shares of the company’s stock worth $2,040,000 after acquiring an additional 4,874 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.
In other The Coca-Cola news, insider Alfredo Rivera sold 20,000 shares of the stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the transaction, the insider now owns 62,000 shares of the company’s stock, valued at $3,171,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 110,000 shares of the stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $54.48, for a total value of $5,992,800.00. Following the completion of the transaction, the chief executive officer now directly owns 266,718 shares in the company, valued at approximately $14,530,796.64. The disclosure for this sale can be found here. Insiders have sold 220,501 shares of company stock worth $11,883,380 in the last ninety days. 1.01% of the stock is currently owned by insiders.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Sunday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The business had revenue of $9 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, June 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 79.62%.
Several brokerages have commented on KO. Wolfe Research began coverage on shares of The Coca-Cola in a research report on Monday, April 12th. They issued a “peer perform” rating on the stock. Guggenheim cut shares of The Coca-Cola from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. HSBC dropped their price target on shares of The Coca-Cola from $61.00 to $58.00 in a research report on Wednesday, January 13th. Citigroup lifted their price target on The Coca-Cola from $54.00 to $57.00 in a research note on Tuesday, April 20th. Finally, JPMorgan Chase & Co. cut The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Thursday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $57.69.
The Coca-Cola Company 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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