Highwater Wealth Management LLC acquired a new stake in The Coca-Cola Co (NYSE:KO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,430 shares of the company’s stock, valued at approximately $158,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Partners Inc. raised its position in The Coca-Cola by 0.5% in the fourth quarter. Legacy Capital Partners Inc. now owns 82,791 shares of the company’s stock worth $3,920,000 after acquiring an additional 425 shares in the last quarter. Packer & Co Ltd grew its holdings in The Coca-Cola by 54.7% in the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the company’s stock valued at $37,955,000 after purchasing an additional 438,222 shares during the last quarter. Moody National Bank Trust Division grew its holdings in The Coca-Cola by 7.2% in the fourth quarter. Moody National Bank Trust Division now owns 34,209 shares of the company’s stock valued at $1,620,000 after purchasing an additional 2,303 shares during the last quarter. Stillwater Investment Management LLC boosted its stake in shares of The Coca-Cola by 3.5% during the fourth quarter. Stillwater Investment Management LLC now owns 38,469 shares of the company’s stock valued at $1,821,000 after acquiring an additional 1,318 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of The Coca-Cola by 1.7% during the fourth quarter. Private Trust Co. NA now owns 60,531 shares of the company’s stock valued at $2,866,000 after acquiring an additional 986 shares during the last quarter. Institutional investors own 65.53% of the company’s stock.
Several equities analysts recently weighed in on the company. Barclays reiterated a “buy” rating and set a $50.00 target price on shares of The Coca-Cola in a research report on Friday, October 5th. Guggenheim assumed coverage on The Coca-Cola in a research report on Thursday, September 13th. They set a “buy” rating and a $51.00 target price on the stock. Morningstar set a $49.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. HSBC set a $61.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, October 17th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.78.
Shares of NYSE:KO traded down $0.94 during mid-day trading on Wednesday, hitting $46.54. 705,987 shares of the company traded hands, compared to its average volume of 13,571,640. The company has a market cap of $202.93 billion, a P/E ratio of 24.39, a PEG ratio of 2.94 and a beta of 0.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $50.84.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The business 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 was down 9.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. Analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, November 29th. This represents a $1.56 annualized dividend and a dividend yield of 3.35%. The Coca-Cola’s payout ratio is currently 81.68%.
In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the sale, the senior vice president now owns 28,354 shares in the company, valued at approximately $1,331,220.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian John Smith sold 43,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total value of $2,064,000.00. Following the sale, the insider now owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,542 shares of company stock worth $18,436,957. Company insiders own 1.48% of the company’s stock.
The Coca-Cola 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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