Hodges Capital Management Inc. Boosts Stake in Coca-Cola Co (The) (NYSE:KO)

Hodges Capital Management Inc. increased its position in Coca-Cola Co (The) (NYSE:KO) by 13.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,767 shares of the company’s stock after buying an additional 6,327 shares during the period. Hodges Capital Management Inc.’s holdings in Coca-Cola were worth $2,654,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KO. BlackRock Inc. lifted its position in shares of Coca-Cola by 6.7% in the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after buying an additional 18,701,930 shares in the last quarter. Capital World Investors raised its position in Coca-Cola by 17.8% during the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock valued at $1,692,153,000 after purchasing an additional 5,792,057 shares during the period. Advisor Group Holdings Inc. purchased a new stake in Coca-Cola during the first quarter valued at approximately $47,894,000. APG Asset Management N.V. raised its position in Coca-Cola by 39.7% during the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock valued at $557,173,000 after purchasing an additional 3,580,852 shares during the period. Finally, State Street Corp raised its position in Coca-Cola by 1.0% during the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after purchasing an additional 1,787,004 shares during the period. Institutional investors own 65.86% of the company’s stock.

Shares of NYSE:KO opened at $50.03 on Friday. Coca-Cola Co has a 52-week low of $36.27 and a 52-week high of $60.13. The stock has a market cap of $214.90 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. The business’s 50 day moving average is $49.97 and its 200 day moving average is $47.25. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Coca-Cola’s revenue was down 28.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Coca-Cola Co will post 1.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.64 annualized dividend and a yield of 3.28%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.73%.

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research report on Tuesday, September 22nd. Finally, Bank of America restated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola has an average rating of “Buy” and an average target price of $54.19.

In other Coca-Cola news, Director David B. Weinberg sold 400,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the sale, the director now owns 355,214 shares of the company’s stock, valued at approximately $17,199,461.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Weinberg sold 98,905 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $48.50, for a total value of $4,796,892.50. Following the sale, the director now directly owns 355,214 shares in the company, valued at approximately $17,227,879. The disclosure for this sale can be found here. In the last three months, insiders sold 836,439 shares of company stock worth $40,380,407. 1.01% of the stock is owned by insiders.

Coca-Cola 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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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