Rational Advisors LLC increased its stake in shares of The Coca-Cola Co (NYSE:KO) by 147.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,800 shares of the company’s stock after acquiring an additional 42,195 shares during the quarter. The Coca-Cola comprises about 1.5% of Rational Advisors LLC’s holdings, making the stock its 7th largest position. Rational Advisors LLC’s holdings in The Coca-Cola were worth $3,854,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FCA Corp TX bought a new position in The Coca-Cola in the second quarter valued at approximately $211,000. Davy Asset Management Ltd bought a new position in The Coca-Cola in the second quarter valued at approximately $891,000. Curbstone Financial Management Corp boosted its stake in The Coca-Cola by 6.0% in the second quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,170 shares during the last quarter. L & S Advisors Inc boosted its stake in The Coca-Cola by 283.6% in the second quarter. L & S Advisors Inc now owns 63,072 shares of the company’s stock valued at $3,212,000 after acquiring an additional 46,632 shares during the last quarter. Finally, Marathon Capital Management boosted its stake in The Coca-Cola by 7.0% in the second quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after acquiring an additional 712 shares during the last quarter. 67.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Brian John Smith sold 60,000 shares of The Coca-Cola stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the completion of the transaction, the chief operating officer now owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 146,000 shares of The Coca-Cola stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the completion of the transaction, the insider now directly owns 244,451 shares of the company’s stock, valued at approximately $13,276,133.81. The disclosure for this sale can be found here. Insiders sold a total of 403,026 shares of company stock worth $22,037,406 over the last quarter. Company insiders own 1.33% of the company’s stock.
A number of brokerages have issued reports on KO. HSBC reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Morgan Stanley reaffirmed a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Tuesday, October 29th. JPMorgan Chase & Co. set a $59.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Friday, October 18th. ValuEngine cut shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks increased their target price on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola presently has an average rating of “Buy” and a consensus target price of $55.95.
KO stock traded up $0.70 during midday trading on Wednesday, hitting $52.41. The company’s stock had a trading volume of 12,537,845 shares, compared to its average volume of 13,170,312. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.79. The Coca-Cola Co has a twelve month low of $44.42 and a twelve month high of $55.92. The company’s fifty day moving average price is $53.69 and its 200 day moving average price is $52.32. The stock has a market capitalization of $223.69 billion, a P/E ratio of 25.20, a PEG ratio of 3.64 and a beta of 0.46.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 3.05%. The Coca-Cola’s payout ratio is currently 76.92%.
About The Coca-Cola
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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