Mission Wealth Management LP Has $1.17 Million Stock Holdings in Coca-Cola Co (The) (NYSE:KO)
Mission Wealth Management LP increased its position in Coca-Cola Co (The) (NYSE:KO) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,677 shares of the company’s stock after purchasing an additional 1,424 shares during the quarter. Mission Wealth Management LP’s holdings in Coca-Cola were worth $1,169,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Coca-Cola by 6.7% in the 2nd quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock valued at $13,316,350,000 after purchasing an additional 18,701,930 shares during the period. State Street Corp raised its holdings in shares of Coca-Cola by 1.0% in the 1st quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after purchasing an additional 1,787,004 shares during the period. Capital World Investors raised its holdings in shares of Coca-Cola by 17.8% in the 1st quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock valued at $1,692,153,000 after purchasing an additional 5,792,057 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Coca-Cola by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,334,403 shares of the company’s stock valued at $1,534,062,000 after purchasing an additional 439,125 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Coca-Cola by 5.1% in the 2nd quarter. California Public Employees Retirement System now owns 24,882,363 shares of the company’s stock valued at $1,111,744,000 after acquiring an additional 1,207,765 shares during the period. 65.86% of the stock is currently owned by institutional investors.
In other Coca-Cola news, SVP Robert Edward Long sold 37,534 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total value of $1,809,514.14. Following the sale, the senior vice president now owns 82,502 shares in the company, valued at $3,977,421.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the completion of the sale, the director now owns 355,214 shares in the company, valued at approximately $17,227,879. The disclosure for this sale can be found here. Insiders have sold a total of 836,439 shares of company stock worth $40,380,407 in the last quarter. 1.01% of the stock is currently owned by company insiders.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, equities research analysts forecast that Coca-Cola Co will post 1.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, November 30th. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. Coca-Cola’s dividend payout ratio is 77.73%.
Several research analysts have weighed in on KO shares. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $54.00 in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a report on Tuesday, September 22nd. Finally, Bank of America reissued a “buy” rating and issued a $53.00 price target on shares of Coca-Cola in a report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $54.19.
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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