Ridgewood Investments LLC cut its stake in shares of Coca-Cola Co (The) (NYSE:KO) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,439 shares of the company’s stock after selling 519 shares during the period. Ridgewood Investments LLC’s holdings in Coca-Cola were worth $466,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Aspiriant LLC increased its stake in shares of Coca-Cola by 5.2% in the 2nd quarter. Aspiriant LLC now owns 19,121 shares of the company’s stock worth $854,000 after purchasing an additional 950 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Coca-Cola by 59.9% in the 2nd quarter. AE Wealth Management LLC now owns 327,510 shares of the company’s stock worth $14,633,000 after purchasing an additional 122,633 shares in the last quarter. WealthTrust Axiom LLC increased its stake in shares of Coca-Cola by 1.5% in the 2nd quarter. WealthTrust Axiom LLC now owns 21,779 shares of the company’s stock worth $973,000 after purchasing an additional 321 shares in the last quarter. Howland Capital Management LLC increased its stake in shares of Coca-Cola by 3.6% in the 2nd quarter. Howland Capital Management LLC now owns 51,342 shares of the company’s stock worth $2,294,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of Coca-Cola by 15.8% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 107,383 shares of the company’s stock worth $4,798,000 after purchasing an additional 14,679 shares in the last quarter. Institutional investors and hedge funds own 65.86% of the company’s stock.
Several equities research analysts have recently commented on KO shares. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a research note on Tuesday, September 22nd. Finally, Bank of America reiterated a “buy” rating and issued a $53.00 price target on shares of Coca-Cola in a research note on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.19.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The business had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company’s revenue was down 28.0% compared to the same quarter last year. As a group, analysts anticipate that Coca-Cola Co will post 1.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, November 30th. Coca-Cola’s payout ratio is 77.73%.
In other news, SVP Robert Edward Long sold 37,534 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the transaction, the senior vice president now owns 82,502 shares of the company’s stock, valued at approximately $3,977,421.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David B. Weinberg sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $48.42, for a total value of $19,368,000.00. Following the transaction, the director now directly owns 355,214 shares in the company, valued at approximately $17,199,461.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 836,439 shares of company stock worth $40,380,407. Corporate insiders own 1.01% of the company’s stock.
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.
Featured Story: How Do You Calculate Return on Investment (ROI)?
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co (The) (NYSE:KO).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.