Jacobs & Co. CA trimmed its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,697 shares of the company's stock after selling 12,800 shares during the period. Jacobs & Co. CA's holdings in Coca-Cola were worth $4,961,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC bought a new position in Coca-Cola in the third quarter worth approximately $58,000. 70.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
KO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.60.
Check Out Our Latest Research Report on KO
Insider Transactions at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.97% of the company's stock.
Coca-Cola Stock Performance
Shares of Coca-Cola stock traded down $0.73 during midday trading on Friday, hitting $60.98. The company had a trading volume of 22,420,855 shares, compared to its average volume of 15,991,351. The stock has a market cap of $262.69 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a fifty day simple moving average of $62.91 and a 200 day simple moving average of $66.46.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The business's revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, November 29th. Coca-Cola's dividend payout ratio is presently 80.17%.
Coca-Cola Profile
(
Free Report)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. 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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