Yacktman Asset Management LP cut its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,090,104 shares of the company’s stock after selling 71,853 shares during the quarter. The Coca-Cola makes up approximately 8.0% of Yacktman Asset Management LP’s holdings, making the stock its 3rd largest holding. Yacktman Asset Management LP owned about 0.31% of The Coca-Cola worth $666,548,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola during the 1st quarter valued at approximately $28,000. Orrstown Financial Services Inc. boosted its position in The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after purchasing an additional 517 shares during the period. Financial Gravity Wealth Inc. bought a new stake in The Coca-Cola during the 1st quarter valued at $35,000. Canton Hathaway LLC raised its stake in The Coca-Cola by 83.5% during the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after acquiring an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new stake in The Coca-Cola during the 4th quarter valued at $50,000. Institutional investors own 66.69% of the company’s stock.
In other news, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares of the company’s stock, valued at $9,331,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lisa Chang bought 500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the transaction, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at $290,051.52. The disclosure for this purchase can be found here. Insiders sold a total of 318,761 shares of company stock worth $16,182,125 in the last three months. Company insiders own 1.33% of the company’s stock.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
Several analysts have weighed in on KO shares. JPMorgan Chase & Co. lifted their target price on The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. SunTrust Banks lifted their target price on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley reaffirmed a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 31st. Finally, Atlantic Securities started coverage on The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.10.
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 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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