The Coca-Cola Co (NYSE:KO) Stock Holdings Decreased by Slow Capital Inc.
Slow Capital Inc. lowered its stake in The Coca-Cola Co (NYSE:KO) by 13.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 40,802 shares of the company’s stock after selling 6,416 shares during the period. Slow Capital Inc.’s holdings in The Coca-Cola were worth $2,078,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new position in The Coca-Cola in the 1st quarter worth about $28,000. Orrstown Financial Services Inc. lifted its stake in shares of The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of The Coca-Cola in the 1st quarter worth approximately $35,000. Canton Hathaway LLC lifted its stake in shares of The Coca-Cola by 83.5% in the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after acquiring an additional 430 shares during the period. Finally, PRW Wealth Management LLC acquired a new stake in The Coca-Cola during the fourth quarter valued at approximately $50,000. 66.69% of the stock is owned by institutional investors.
In other The Coca-Cola news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total transaction of $488,058.48. Following the completion of the sale, the insider now owns 41,175 shares of the company’s stock, valued at approximately $2,202,039. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James L. Dinkins sold 45,875 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the sale, the insider now directly owns 95,101 shares of the company’s stock, valued at approximately $5,065,079.26. The disclosure for this sale can be found here. Insiders sold 345,855 shares of company stock valued at $17,516,258 in the last three months. Company insiders own 1.33% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The Coca-Cola’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
Several analysts recently commented on the stock. Royal Bank of Canada reissued a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. HSBC reiterated a “neutral” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Bank of America restated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.86.
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 plantbased 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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