CHURCHILL MANAGEMENT Corp cut its stake in The Coca-Cola Company (NYSE:KO) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,916 shares of the company’s stock after selling 11,452 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in The Coca-Cola were worth $6,796,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of The Coca-Cola by 1.1% during the 3rd quarter. BlackRock Inc. now owns 301,442,831 shares of the company’s stock worth $14,882,230,000 after buying an additional 3,404,545 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in The Coca-Cola by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 35,887,212 shares of the company’s stock worth $1,771,752,000 after acquiring an additional 1,552,809 shares during the period. Morgan Stanley grew its position in The Coca-Cola by 3.2% in the third quarter. Morgan Stanley now owns 45,242,925 shares of the company’s stock worth $2,233,644,000 after acquiring an additional 1,413,048 shares during the period. Principal Financial Group Inc. increased its stake in The Coca-Cola by 12.8% during the second quarter. Principal Financial Group Inc. now owns 10,361,388 shares of the company’s stock worth $462,946,000 after acquiring an additional 1,176,700 shares during the last quarter. Finally, M&G Investment Management Ltd. lifted its stake in shares of The Coca-Cola by 8,926.2% in the 3rd quarter. M&G Investment Management Ltd. now owns 1,150,662 shares of the company’s stock valued at $56,382,000 after purchasing an additional 1,137,914 shares during the last quarter. Institutional investors and hedge funds own 60.00% of the company’s stock.
Several brokerages recently issued reports on KO. Royal Bank of Canada lowered shares of The Coca-Cola from an “outperform” rating to a “sector perform” rating and set a $55.00 price objective on the stock. in a report on Monday, January 4th. UBS Group boosted their price target on shares of The Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Morgan Stanley increased their price objective on shares of The Coca-Cola from $57.00 to $59.00 in a research report on Thursday, December 17th. BidaskClub lowered The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Saturday, January 9th. Finally, Zacks Investment Research lowered The Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a research report on Tuesday, September 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.41.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.09. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The business had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 1.88 earnings per share for the current year.
In other news, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $50.12, for a total transaction of $10,024,000.00. Following the completion of the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,803,325.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Weinberg sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $52.65, for a total value of $5,265,000.00. Following the sale, the director now directly owns 355,214 shares in the company, valued at approximately $18,702,017.10. The disclosure for this sale can be found here. Insiders sold 400,000 shares of company stock valued at $20,264,000 in the last quarter. 1.01% of the stock is owned by insiders.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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