Haverford Financial Services Inc. decreased its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,765 shares of the company’s stock after selling 3,033 shares during the quarter. Haverford Financial Services Inc.’s holdings in Coca-Cola were worth $5,789,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in KO. Fortis Advisors LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at $25,000. Curi Wealth Management LLC bought a new position in Coca-Cola in the 4th quarter valued at $25,000. Shore Point Advisors LLC bought a new position in Coca-Cola in the 4th quarter valued at $28,000. Horan Securities Inc. bought a new position in Coca-Cola in the 4th quarter valued at $32,000. Finally, Leverty Financial Group LLC bought a new position in Coca-Cola in the 4th quarter valued at $35,000. 68.51% of the stock is currently owned by institutional investors and hedge funds.
KO has been the subject of a number of recent research reports. Barclays set a $74.00 target price on Coca-Cola in a research report on Wednesday, April 27th. UBS Group boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, February 11th. Citigroup boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. Royal Bank of Canada boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 26th. Finally, Cowen boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 26th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $67.29.
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, June 14th. Coca-Cola’s dividend payout ratio is presently 73.95%.
In related news, CFO John Murphy sold 154,080 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $62.29, for a total transaction of $9,597,643.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brian John Smith sold 48,292 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $61.66, for a total value of $2,977,684.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 667,137 shares of company stock worth $42,579,677. Company insiders own 0.98% of the company’s stock.
About Coca-Cola (Get Rating)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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