Beacon Financial Group Has $8.24 Million Position in The Coca-Cola Co (KO)
Beacon Financial Group increased its stake in The Coca-Cola Co (NYSE:KO) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 183,033 shares of the company’s stock after purchasing an additional 2,020 shares during the quarter. The Coca-Cola makes up 1.5% of Beacon Financial Group’s investment portfolio, making the stock its 26th largest holding. Beacon Financial Group’s holdings in The Coca-Cola were worth $8,238,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of KO. Janus Henderson Group PLC increased its position in shares of The Coca-Cola by 1,117.2% during the second quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after purchasing an additional 12,243,387 shares during the period. Capital World Investors increased its position in shares of The Coca-Cola by 8.9% during the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after purchasing an additional 11,593,679 shares during the period. Vanguard Group Inc. increased its position in shares of The Coca-Cola by 1.8% during the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after purchasing an additional 4,818,963 shares during the period. HS Management Partners LLC bought a new stake in shares of The Coca-Cola during the second quarter valued at approximately $152,243,000. Finally, Lazard Asset Management LLC increased its position in shares of The Coca-Cola by 13.3% during the second quarter. Lazard Asset Management LLC now owns 27,715,975 shares of the company’s stock valued at $1,243,060,000 after purchasing an additional 3,243,942 shares during the period. Institutional investors own 65.38% of the company’s stock.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.51% of the company’s stock.
Shares of The Coca-Cola Co (NYSE KO) traded up $0.16 on Monday, hitting $46.19. The stock had a trading volume of 21,181,600 shares, compared to its average volume of 11,531,985. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The Coca-Cola Co has a twelve month low of $40.22 and a twelve month high of $47.48. The firm has a market capitalization of $196,778.91, a price-to-earnings ratio of 24.44, a PEG ratio of 3.95 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The business had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. equities analysts predict that The Coca-Cola Co will post 1.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is presently 140.95%.
A number of analysts have recently issued reports on KO shares. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Monday, October 16th. boosted their price objective on The Coca-Cola from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 price target on shares of The Coca-Cola in a research report on Wednesday, September 6th. Bank of America reiterated a “buy” rating and issued a $52.00 price target (up from $50.00) on shares of The Coca-Cola in a research report on Monday, October 9th. Finally, Credit Suisse Group set a $51.00 price target on The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and a consensus target price of $48.01.
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The Coca-Cola Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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