Ullmann Financial Group Inc. decreased its stake in The Coca-Cola Co (NYSE:KO) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,540 shares of the company’s stock after selling 204 shares during the quarter. The Coca-Cola makes up 0.4% of Ullmann Financial Group Inc.’s holdings, making the stock its 29th largest position. Ullmann Financial Group Inc.’s holdings in The Coca-Cola were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after purchasing an additional 4,225,080 shares in the last quarter. State Street Corp boosted its position in The Coca-Cola by 1.3% during the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock worth $9,959,624,000 after purchasing an additional 2,412,293 shares in the last quarter. Morgan Stanley boosted its position in The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after purchasing an additional 5,449,889 shares in the last quarter. Nuveen Asset Management LLC boosted its position in The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after purchasing an additional 32,243,310 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in The Coca-Cola by 6.1% during the third quarter. California Public Employees Retirement System now owns 24,437,038 shares of the company’s stock worth $1,330,352,000 after purchasing an additional 1,413,482 shares in the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
In related news, VP Larry M. Mark sold 90,289 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $54.93, for a total value of $4,959,574.77. Following the completion of the sale, the vice president now owns 93,474 shares of the company’s stock, valued at $5,134,526.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nancy Quan sold 24,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.90, for a total value of $1,293,600.00. Following the completion of the sale, the senior vice president now directly owns 189,049 shares of the company’s stock, valued at approximately $10,189,741.10. The disclosure for this sale can be found here. Insiders have sold 132,678 shares of company stock valued at $7,264,570 in the last three months. Insiders own 1.33% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, October 18th. The company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. The Coca-Cola’s payout ratio is currently 76.92%.
A number of equities analysts have issued reports on KO shares. Credit Suisse Group upgraded The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $54.00 to $64.00 in a research report on Thursday, January 9th. ValuEngine downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Evercore ISI reiterated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Sunday, November 17th. JPMorgan Chase & Co. set a $59.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Guggenheim set a $59.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The Coca-Cola presently has an average rating of “Buy” and a consensus target price of $57.05.
The Coca-Cola Company Profile
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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