Westpac Banking Corp Trims Holdings in Coca-Cola Company (The) (KO)
Westpac Banking Corp lowered its position in Coca-Cola Company (The) (NYSE:KO) by 19.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,491 shares of the company’s stock after selling 72,875 shares during the quarter. Westpac Banking Corp’s holdings in Coca-Cola were worth $13,163,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its stake in Coca-Cola by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock valued at $7,375,663,000 after buying an additional 2,009,675 shares during the last quarter. Legal & General Group Plc lifted its stake in Coca-Cola by 4.0% in the first quarter. Legal & General Group Plc now owns 20,535,490 shares of the company’s stock valued at $871,552,000 after buying an additional 789,178 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Coca-Cola by 14.6% in the second quarter. Federated Investors Inc. PA now owns 19,202,172 shares of the company’s stock valued at $861,217,000 after buying an additional 2,440,395 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Coca-Cola by 2.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,219,699 shares of the company’s stock worth $817,154,000 after purchasing an additional 481,607 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Coca-Cola by 3.0% during the second quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock worth $735,069,000 after purchasing an additional 470,700 shares during the last quarter. Institutional investors own 65.38% of the company’s stock.
Coca-Cola Company (NYSE:KO) opened at $46.03 on Monday. Coca-Cola Company has a twelve month low of $40.19 and a twelve month high of $47.48. The firm has a market capitalization of $195,862.86, a price-to-earnings ratio of 24.32, a P/E/G ratio of 3.89 and a beta of 0.70. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The firm had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. Coca-Cola’s quarterly revenue was down 14.6% on a year-over-year basis. analysts expect that Coca-Cola Company will post 1.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s dividend payout ratio is presently 140.95%.
Several equities research analysts have recently commented on KO shares. Vetr upgraded Coca-Cola from a “sell” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Royal Bank Of Canada set a $49.00 price target on Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Goldman Sachs Group set a $45.00 price target on Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Jefferies Group set a $47.00 price target on Coca-Cola and gave the stock a “neutral” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $47.80.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.51% of the company’s stock.
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Coca-Cola Company Profile
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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