Ballast Inc. raised its holdings in Coca-Cola Co (The) (NYSE:KO) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,039 shares of the company’s stock after buying an additional 1,118 shares during the quarter. Ballast Inc.’s holdings in Coca-Cola were worth $298,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in Coca-Cola by 6.7% in the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock valued at $13,316,350,000 after buying an additional 18,701,930 shares during the period. State Street Corp increased its holdings in shares of Coca-Cola by 1.0% during the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after acquiring an additional 1,787,004 shares in the last quarter. Capital World Investors increased its holdings in shares of Coca-Cola by 17.8% during the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock valued at $1,692,153,000 after acquiring an additional 5,792,057 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coca-Cola by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,334,403 shares of the company’s stock valued at $1,534,062,000 after acquiring an additional 439,125 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Coca-Cola by 5.1% during the second quarter. California Public Employees Retirement System now owns 24,882,363 shares of the company’s stock valued at $1,111,744,000 after acquiring an additional 1,207,765 shares in the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on KO shares. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a report on Tuesday, September 22nd. Bank of America reiterated a “buy” rating and set a $53.00 price target on shares of Coca-Cola in a report on Friday, July 17th. Finally, Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $54.00 in a report on Wednesday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Coca-Cola currently has an average rating of “Buy” and an average price target of $54.19.
Shares of NYSE KO opened at $50.03 on Friday. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. The business’s fifty day moving average price is $49.97 and its 200-day moving average price is $47.25. The stock has a market capitalization of $214.90 billion, a PE ratio of 23.60, a P/E/G ratio of 5.91 and a beta of 0.55.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was down 28.0% compared to the same quarter last year. As a group, equities analysts expect that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. Coca-Cola’s dividend payout ratio (DPR) is 77.73%.
In related news, SVP Robert Edward Long sold 37,534 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the sale, the senior vice president now owns 82,502 shares of the company’s stock, valued at approximately $3,977,421.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Weinberg sold 50,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $48.02, for a total value of $2,401,000.00. Following the sale, the director now directly owns 355,214 shares in the company, valued at approximately $17,057,376.28. The disclosure for this sale can be found here. Insiders have sold a total of 836,439 shares of company stock worth $40,380,407 in the last three months. 1.01% of the stock is currently owned by insiders.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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