Carnick & Kubik Group LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,200 shares of the company’s stock, valued at approximately $1,156,000.
Other large investors have also modified their holdings of the company. Veritas Investment Management LLP acquired a new stake in The Coca-Cola in the 3rd quarter worth about $135,000. Spectrum Management Group Inc. acquired a new stake in The Coca-Cola in the 3rd quarter worth about $137,000. Legacy Advisors LLC acquired a new stake in The Coca-Cola in the 3rd quarter worth about $139,000. Goodman Financial Corp acquired a new stake in The Coca-Cola in the 4th quarter worth about $143,000. Finally, Almanack Investment Partners LLC. acquired a new stake in The Coca-Cola in the 2nd quarter worth about $142,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on KO. Stifel Nicolaus reissued a “hold” rating and issued a $49.00 price target on shares of The Coca-Cola in a research note on Friday, December 22nd. Goldman Sachs set a $49.00 price target on The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, January 10th. JPMorgan Chase reissued a “neutral” rating and issued a price target (up from ) on shares of The Coca-Cola in a research note on Friday, February 16th. Credit Suisse Group reaffirmed a “buy” rating on shares of The Coca-Cola in a research note on Tuesday, February 13th. Finally, Jefferies Group reaffirmed a “neutral” rating and issued a $49.00 price objective on shares of The Coca-Cola in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $49.21.
The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $7.51 billion for the quarter, compared to the consensus estimate of $7.36 billion. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The company’s revenue was down 20.2% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. equities analysts forecast that The Coca-Cola Company will post 2.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.39 per share. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
In related news, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now directly owns 24,673 shares in the company, valued at approximately $1,183,070.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kathy N. Waller sold 23,240 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total value of $1,072,526.00. Following the sale, the chief financial officer now owns 123,796 shares in the company, valued at $5,713,185.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,523 shares of company stock worth $5,885,511. Company insiders own 1.48% of the company’s stock.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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