Westshore Wealth LLC bought a new stake in The Coca-Cola Co (NYSE:KO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,783 shares of the company’s stock, valued at approximately $431,000.
Several other hedge funds also recently made changes to their positions in KO. Wealth Quarterback LLC acquired a new position in The Coca-Cola during the fourth quarter worth $19,121,610,000. State Street Corp raised its holdings 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 during the last quarter. Geode Capital Management LLC raised its holdings in The Coca-Cola by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 52,925,354 shares of the company’s stock worth $2,923,381,000 after purchasing an additional 2,155,322 shares during the last quarter. Norges Bank acquired a new position in The Coca-Cola during the fourth quarter worth $2,006,996,000. Finally, Capital World Investors raised its holdings in The Coca-Cola by 1.0% during the fourth quarter. Capital World Investors now owns 32,448,633 shares of the company’s stock worth $1,796,032,000 after purchasing an additional 309,632 shares during the last quarter. Institutional investors own 68.67% of the company’s stock.
Several brokerages recently issued reports on KO. DZ Bank raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, March 25th. Deutsche Bank reaffirmed a “buy” rating and set a $53.00 price objective (down from $64.00) on shares of The Coca-Cola in a report on Friday, March 20th. HSBC raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, March 24th. SunTrust Banks reissued an “outperform” rating and set a $65.00 price target on shares of The Coca-Cola in a research report on Friday, January 31st. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “buy” rating and set a $58.00 price target on shares of The Coca-Cola in a research report on Monday, March 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.37.
KO stock traded down $0.36 during trading on Tuesday, reaching $44.64. 11,792,619 shares of the stock traded hands, compared to its average volume of 32,231,652. The business’s 50 day moving average price is $52.63 and its 200-day moving average price is $54.13. The Coca-Cola Co has a 52-week low of $36.27 and a 52-week high of $60.13. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.76 and a quick ratio of 0.63. The firm has a market capitalization of $183.67 billion, a PE ratio of 21.57, a P/E/G ratio of 3.31 and a beta of 0.46.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.40. The Coca-Cola’s payout ratio is 77.73%.
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 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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