JGP Wealth Management LLC cut its holdings in The Coca-Cola Co (NYSE:KO) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,741 shares of the company’s stock after selling 924 shares during the quarter. The Coca-Cola makes up about 1.8% of JGP Wealth Management LLC’s holdings, making the stock its 12th biggest holding. JGP Wealth Management LLC’s holdings in The Coca-Cola were worth $4,608,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in KO. IMS Capital Management purchased a new stake in shares of The Coca-Cola during the 3rd quarter valued at about $73,000. Westbourne Investment Advisors Inc. bought a new stake in The Coca-Cola during the 3rd quarter worth approximately $117,000. Fort L.P. bought a new stake in The Coca-Cola during the 2nd quarter worth approximately $122,000. Sageworth Trust Co raised its stake in The Coca-Cola by 69.5% during the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock worth $135,000 after acquiring an additional 1,200 shares during the period. Finally, BDO Wealth Advisors LLC raised its stake in The Coca-Cola by 104.9% during the 2nd quarter. BDO Wealth Advisors LLC now owns 3,163 shares of the company’s stock worth $139,000 after acquiring an additional 1,619 shares during the period. 65.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Kathy N. Waller sold 88,400 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $50.00, for a total value of $4,420,000.00. Following the completion of the transaction, the vice president now directly owns 256,421 shares in the company, valued at $12,821,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer K. Mann sold 15,100 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $50.40, for a total value of $761,040.00. Following the completion of the transaction, the insider now owns 40,058 shares of the company’s stock, valued at $2,018,923.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,542 shares of company stock valued at $18,436,957. Insiders own 1.48% of the company’s stock.
NYSE KO opened at $46.95 on Tuesday. The firm has a market cap of $202.93 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.62. The Coca-Cola Co has a twelve month low of $41.45 and a twelve month high of $50.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts expect that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.32%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
KO has been the topic of several recent analyst reports. Barclays reiterated a “buy” rating and set a $50.00 price objective on shares of The Coca-Cola in a research report on Friday, October 5th. Guggenheim assumed coverage on shares of The Coca-Cola in a research note on Thursday, September 13th. They set a “buy” rating and a $51.00 price objective for the company. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. HSBC set a $61.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $51.55.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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