Magnolia Capital Advisors LLC purchased a new stake in The Coca-Cola Co (NYSE:KO) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,939 shares of the company’s stock, valued at approximately $273,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of KO. B. Riley Wealth Management Inc. grew its position in shares of The Coca-Cola by 76.1% during the fourth quarter. B. Riley Wealth Management Inc. now owns 37,580 shares of the company’s stock worth $2,080,000 after acquiring an additional 16,245 shares during the last quarter. National Pension Service grew its position in The Coca-Cola by 7.1% in the 4th quarter. National Pension Service now owns 4,485,325 shares of the company’s stock valued at $248,263,000 after buying an additional 298,886 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in The Coca-Cola by 11.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 37,613 shares of the company’s stock valued at $2,082,000 after buying an additional 3,791 shares in the last quarter. Americana Partners LLC bought a new position in The Coca-Cola in the 4th quarter valued at about $68,000. Finally, Contravisory Investment Management Inc. grew its position in The Coca-Cola by 1.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 78,030 shares of the company’s stock valued at $4,319,000 after buying an additional 1,444 shares in the last quarter. 68.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Nancy Quan sold 10,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the sale, the senior vice president now directly owns 175,049 shares of the company’s stock, valued at $8,052,254. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian John Smith sold 25,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $56.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief operating officer now directly owns 139,302 shares of the company’s stock, valued at $7,800,912. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,027 shares of company stock worth $9,620,065. Corporate insiders own 1.01% of the company’s stock.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The Coca-Cola had a return on equity of 44.39% and a net margin of 24.38%. The firm had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis. Equities analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, March 13th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.40. The Coca-Cola’s dividend payout ratio (DPR) is 77.73%.
A number of equities analysts recently issued reports on the stock. SunTrust Banks reiterated an “outperform” rating and issued a $65.00 target price on shares of The Coca-Cola in a research report on Friday, January 31st. They noted that the move was a valuation call. HSBC upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, March 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of The Coca-Cola in a research report on Monday, March 23rd. Morgan Stanley upped their price target on shares of The Coca-Cola from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Deutsche Bank reissued a “buy” rating and issued a $53.00 price target (down from $64.00) on shares of The Coca-Cola in a report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.37.
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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