Excalibur Management Corp lowered its stake in The Coca-Cola Co (NYSE:KO) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,329 shares of the company’s stock after selling 6,486 shares during the quarter. The Coca-Cola comprises approximately 2.2% of Excalibur Management Corp’s holdings, making the stock its 15th largest holding. Excalibur Management Corp’s holdings in The Coca-Cola were worth $2,580,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in The Coca-Cola by 1,117.2% during the second quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after acquiring an additional 12,243,387 shares during the last quarter. Capital World Investors raised its holdings in shares of The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after buying an additional 11,593,679 shares during the last quarter. Troy Asset Management Ltd purchased a new position in shares of The Coca-Cola in the third quarter worth $260,266,000. Vanguard Group Inc. raised its holdings in shares of The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock worth $12,343,662,000 after buying an additional 4,818,963 shares during the last quarter. Finally, HS Management Partners LLC purchased a new position in shares of The Coca-Cola in the second quarter worth $152,243,000. Institutional investors and hedge funds own 65.30% of the company’s stock.
A number of research analysts have issued reports on KO shares. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Monday, October 16th. raised their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “buy” rating in a research report 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 report on Monday, October 9th. Credit Suisse Group set a $51.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The Coca-Cola has an average rating of “Hold” and an average target price of $49.01.
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 shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the sale, the insider now owns 320,013 shares in the company, valued at approximately $14,749,399.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.51% of the company’s stock.
The Coca-Cola Co (NYSE:KO) opened at $46.15 on Friday. The Coca-Cola Co has a twelve month low of $40.22 and a twelve month high of $47.48. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The company has a market cap of $196,630.00, a P/E ratio of 43.95, a price-to-earnings-growth ratio of 3.75 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. equities analysts forecast that The Coca-Cola Co will post 1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s payout ratio is 140.95%.
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About The Coca-Cola
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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