Massmutual Trust Co. FSB ADV grew its position in The Coca-Cola Co (NYSE:KO) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 74,024 shares of the company’s stock after buying an additional 1,898 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in The Coca-Cola were worth $3,419,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of The Coca-Cola by 0.9% in the third quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after acquiring an additional 4,973 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of The Coca-Cola by 1.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock valued at $10,236,000 after acquiring an additional 2,600 shares in the last quarter. First Command Financial Services Inc. boosted its holdings in shares of The Coca-Cola by 73.2% in the third quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock valued at $883,000 after acquiring an additional 8,084 shares in the last quarter. HPM Partners LLC boosted its holdings in shares of The Coca-Cola by 3.0% in the second quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock valued at $4,399,000 after acquiring an additional 2,931 shares in the last quarter. Finally, Baldwin Investment Management LLC bought a new position in shares of The Coca-Cola in the second quarter valued at approximately $272,000. Hedge funds and other institutional investors own 65.79% of the company’s stock.
In related news, insider Brian John Smith sold 43,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total value of $2,064,000.00. Following the transaction, the insider now directly owns 123,908 shares in the company, valued at approximately $5,947,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James L. Dinkins sold 8,754 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the transaction, the senior vice president now owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,542 shares of company stock worth $18,436,957. 1.48% of the stock is currently owned by company insiders.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The Coca-Cola’s quarterly revenue was down 9.2% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
Several research analysts have recently issued reports on the stock. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, November 6th. Societe Generale set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Monday, August 13th. HSBC reissued a “buy” rating and set a $61.00 target price on shares of The Coca-Cola in a research note on Monday, August 20th. Zacks Investment Research raised shares of The Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, Jefferies Financial Group reissued a “neutral” rating and set a $48.00 target price on shares of The Coca-Cola in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $51.43.
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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 plantbased 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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