The Coca-Cola Co (NYSE:KO) Shares Sold by Boys Arnold & Co. Inc.

Posted by Matthew Steigler on Oct 25th, 2019 // Comments off

Boys Arnold & Co. Inc. lowered its holdings in The Coca-Cola Co (NYSE:KO) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 132,293 shares of the company’s stock after selling 4,336 shares during the quarter. The Coca-Cola makes up about 1.1% of Boys Arnold & Co. Inc.’s portfolio, making the stock its 18th biggest holding. Boys Arnold & Co. Inc.’s holdings in The Coca-Cola were worth $7,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of The Coca-Cola in the second quarter worth approximately $25,000. LFA Lugano Financial Advisors SA increased its position in shares of The Coca-Cola by 348.8% in the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of The Coca-Cola in the second quarter worth approximately $36,000. Candriam Luxembourg S.C.A. increased its position in shares of The Coca-Cola by 1.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock worth $37,000 after acquiring an additional 6,373 shares in the last quarter. Finally, Proffitt & Goodson Inc. purchased a new position in shares of The Coca-Cola in the third quarter worth approximately $44,000. 67.51% of the stock is currently owned by institutional investors.

In other news, SVP Lisa Chang acquired 500 shares of The Coca-Cola stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the purchase, the senior vice president now owns 5,448 shares of the company’s stock, valued at $290,051.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the completion of the sale, the insider now owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The disclosure for this sale can be found here. Insiders sold 379,026 shares of company stock valued at $20,743,806 over the last 90 days. 1.33% of the stock is owned by corporate insiders.

Several research firms recently commented on KO. BMO Capital Markets raised their price target on shares of The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday. Credit Suisse Group lifted their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley set a $60.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Atlantic Securities assumed coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price for the company. Finally, Guggenheim set a $59.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The Coca-Cola has an average rating of “Buy” and an average price target of $55.60.

Shares of The Coca-Cola stock opened at $54.61 on Friday. The firm has a fifty day simple moving average of $54.22 and a 200-day simple moving average of $51.74. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50. The Coca-Cola Co has a 1-year low of $44.42 and a 1-year high of $55.92. The stock has a market capitalization of $230.26 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.75 and a beta of 0.45.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.42 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The Coca-Cola’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict 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 Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is 76.92%.

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 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.

The Coca-Cola Co (NYSE:KO) Shares Sold by Boys Arnold & Co. Inc.

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