Perpetual Ltd decreased its position in The Coca-Cola Co (NYSE:KO) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,938 shares of the company’s stock after selling 7,100 shares during the quarter. Perpetual Ltd’s holdings in The Coca-Cola were worth $1,932,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in KO. Arbor Wealth Management LLC grew its stake in shares of The Coca-Cola by 13.2% in the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock worth $87,000 after acquiring an additional 199 shares during the last quarter. Centerpoint Advisors LLC boosted its stake in The Coca-Cola by 13.3% during the second quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock worth $88,000 after buying an additional 203 shares in the last quarter. Paulson Wealth Management Inc. boosted its stake in The Coca-Cola by 3.2% during the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock worth $310,000 after buying an additional 208 shares in the last quarter. OmniStar Financial Group Inc. boosted its stake in The Coca-Cola by 1.3% during the first quarter. OmniStar Financial Group Inc. now owns 17,021 shares of the company’s stock worth $798,000 after buying an additional 216 shares in the last quarter. Finally, Private Ocean LLC lifted its holdings in shares of The Coca-Cola by 9.8% during the second quarter. Private Ocean LLC now owns 2,411 shares of the company’s stock valued at $122,000 after acquiring an additional 216 shares during the period. 66.64% of the stock is currently owned by institutional investors.
In related news, VP Bernhard Goepelt sold 13,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total value of $636,480.00. Following the sale, the vice president now owns 151,504 shares in the company, valued at approximately $7,417,635.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total value of $1,519,687.64. Following the completion of the sale, the senior vice president now owns 57,538 shares in the company, valued at approximately $2,875,173.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,175 shares of company stock worth $18,634,452. 1.33% of the stock is owned by company insiders.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 31st. HSBC reaffirmed a “neutral” rating and set a $52.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. Atlantic Securities began coverage on The Coca-Cola in a research report on Monday, July 29th. They set an “overweight” rating and a $62.00 price target for the company. Deutsche Bank upped their price target on The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.86.
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 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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