Guggenheim Capital LLC Purchases 153,147 Shares of The Coca-Cola Company (KO)
Guggenheim Capital LLC raised its position in The Coca-Cola Company (NYSE:KO) by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,117,367 shares of the company’s stock after buying an additional 153,147 shares during the quarter. Guggenheim Capital LLC’s holdings in The Coca-Cola were worth $97,144,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. Santori & Peters Inc. acquired a new position in shares of The Coca-Cola during the 4th quarter worth $127,000. Veritas Investment Management LLP acquired a new position in shares of The Coca-Cola during the 3rd quarter worth $135,000. Spectrum Management Group Inc. acquired a new position in shares of The Coca-Cola during the 3rd quarter worth $137,000. Legacy Advisors LLC acquired a new position in shares of The Coca-Cola during the 3rd quarter worth $139,000. Finally, Goodman Financial Corp acquired a new position in shares of The Coca-Cola during the 4th quarter worth $143,000. 66.03% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on KO shares. Evercore ISI raised shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $46.04 to $55.00 in a research note on Friday, January 12th. Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. JPMorgan Chase reaffirmed a “neutral” rating and set a price target (up from ) on shares of The Coca-Cola in a research note on Friday, February 16th. Morgan Stanley reaffirmed a “neutral” rating and set a $49.00 price target (up from $48.00) on shares of The Coca-Cola in a research note on Monday, February 19th. Finally, Jefferies Group set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, January 4th. Fourteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The Coca-Cola presently has an average rating of “Hold” and a consensus target price of $49.45.
The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. The company had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.32 billion. The Coca-Cola had a net margin of 4.23% and a return on equity of 39.54%. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. analysts forecast that The Coca-Cola Company will post 2.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.60%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
In other The Coca-Cola news, insider Jennifer K. Mann sold 1,883 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $45.00, for a total value of $84,735.00. Following the transaction, the insider now directly owns 98,995 shares in the company, valued at approximately $4,454,775. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.48% of the stock is currently owned by corporate insiders.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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