Interchange Capital Partners LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,440 shares of the company’s stock after selling 1,586 shares during the quarter. Interchange Capital Partners LLC’s holdings in The Coca-Cola were worth $714,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in shares of The Coca-Cola by 16.3% during the 4th quarter. FMR LLC now owns 56,240,715 shares of the company’s stock worth $3,084,241,000 after buying an additional 7,887,519 shares during the period. Morgan Stanley increased its position in shares of The Coca-Cola by 7.5% during the fourth quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after purchasing an additional 3,397,649 shares in the last quarter. Norges Bank purchased a new stake in shares of The Coca-Cola during the fourth quarter worth approximately $2,345,618,000. Bank of New York Mellon Corp increased its position in shares of The Coca-Cola by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after purchasing an additional 3,818,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of The Coca-Cola by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock worth $2,077,505,000 after purchasing an additional 1,995,835 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.
In related 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 transaction of $1,023,000.00. Following the transaction, the insider now owns 62,000 shares of the company’s stock, valued at approximately $3,171,300. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kathy Loveless sold 501 shares of the stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $50.46, for a total value of $25,280.46. Following the transaction, the vice president now directly owns 10,224 shares in the company, valued at approximately $515,903.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,501 shares of company stock worth $11,883,380. Corporate insiders own 1.01% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Sunday, April 18th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ 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 company posted $0.51 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that The Coca-Cola Company will post 1.88 earnings per share for the current fiscal year.
The firm 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, June 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 79.62%.
Several analysts recently commented on the company. Sanford C. Bernstein assumed coverage on The Coca-Cola in a research report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 price target for the company. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, April 21st. Royal Bank of Canada upgraded The Coca-Cola from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $60.00 in a research report on Monday, March 15th. Wolfe Research started coverage on The Coca-Cola in a research report on Monday, April 12th. They set a “peer perform” rating for the company. Finally, Morgan Stanley upped their target price on The Coca-Cola from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus 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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