Jennison Associates LLC grew its holdings in The Coca-Cola Co (NYSE:KO) by 129.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 724,733 shares of the company’s stock after purchasing an additional 409,139 shares during the quarter. Jennison Associates LLC’s holdings in The Coca-Cola were worth $32,620,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of KO. Candriam Luxembourg S.C.A. lifted its stake in shares of The Coca-Cola by 28.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 613,999 shares of the company’s stock valued at $27,636,000 after buying an additional 135,450 shares during the period. Corundum Group Inc. lifted its stake in shares of The Coca-Cola by 20.3% in the third quarter. Corundum Group Inc. now owns 6,674 shares of the company’s stock valued at $300,000 after buying an additional 1,124 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of The Coca-Cola by 2.6% in the third quarter. Hennessy Advisors Inc. now owns 251,000 shares of the company’s stock valued at $11,298,000 after buying an additional 6,300 shares during the period. Pax World Management LLC lifted its stake in shares of The Coca-Cola by 7.2% in the third quarter. Pax World Management LLC now owns 34,135 shares of the company’s stock valued at $1,536,000 after buying an additional 2,300 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in shares of The Coca-Cola by 49.2% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 10,286 shares of the company’s stock valued at $463,000 after buying an additional 3,393 shares during the period. 65.30% of the stock is currently owned by institutional investors.
The Coca-Cola Co (NYSE KO) opened at $46.15 on Friday. The Coca-Cola Co has a one year low of $40.22 and a one year high of $47.48. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The stock has a market cap of $196,630.00, a P/E ratio of 43.95, a PEG ratio of 3.75 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The Coca-Cola’s quarterly revenue was down 14.6% compared to the same quarter last year. sell-side analysts forecast that The Coca-Cola Co will post 1.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is currently 140.95%.
Several equities research analysts recently weighed in on KO shares. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Monday, October 16th. raised their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, September 27th. Bank of America restated a “buy” rating and set a $52.00 price target (up previously from $50.00) on shares of The Coca-Cola in a research note on Monday, October 9th. Credit Suisse Group set a $51.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada set a $49.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.01.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now owns 320,013 shares in the company, valued at $14,749,399.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.
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The 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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