Bremer Bank National Association cut its stake in The Coca-Cola Company (NYSE: KO – Get Rating) by 34.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,357 shares of the company stock after selling 18,752 shares during the quarter. Bremer Bank National Association’s holdings in Coca-Cola were worth $ 2,192,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Vigilant Capital Management LLC lifted its stake in Coca-Cola by 26.1% in the 1st quarter. Vigilant Capital Management LLC now owns 11,675 shares of the company stock worth $ 724,000 after purchasing an additional 2,415 shares in the last quarter. McAdam LLC lifted its stake in Coca-Cola by 6.3% in the 1st quarter. McAdam LLC now owns 6,768 shares of the company stock worth $ 420,000 after purchasing an additional 400 shares in the last quarter. My Legacy Advisors LLC purchased a new position in Coca-Cola in the 1st quarter worth approximately $ 1,176,000. Telemus Capital LLC lifted its stake in Coca-Cola by 4.1% in the 1st quarter. Telemus Capital LLC now owns 44,193 shares of the company stock worth $ 2,740,000 after purchasing an additional 1,737 shares in the last quarter. Finally, BancFirst Trust & Investment Management lifted its stake in Coca-Cola by 8.1% in the 1st quarter. BancFirst Trust & Investment Management now owns 4,738 shares of the company stock worth $ 294,000 after purchasing an additional 356 shares in the last quarter. 68.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on KO shares. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $ 68.00 to $ 69.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 26th. Credit Suisse Group set a $ 68.00 objective price on shares of Coca-Cola in a research note on Friday, May 13th. Cowen increased their price objective on shares of Coca-Cola from $ 65.00 to $ 68.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 26th. Guggenheim raised their price target on shares of Coca-Cola from $ 68.00 to $ 71.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Finally, StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Buy” and a consensus price target of $ 68.05.
Shares of KO opened at $ 59.43 on Monday. The stock’s 50-day simple moving average is $ 63.68 and its 200 day simple moving average is $ 61.41. The stock has a market capitalization of $ 257.63 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.18. The Coca-Cola Company has a 52-week low of $ 52.28 and a 52-week high of $ 67.20.
Coca-Cola (NYSE: KO – Get Rating) last issued its quarterly earnings data 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $ 0.55 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a dividend of $ 0.44 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 1.76 annualized dividend and a yield of 2.96%. Coca-Cola’s payout ratio is 73.95%.
In other news, insider Nikolaos Koumettis sold 153,466 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $ 65.03, for a total value of $ 9,979,893.98. Following the completion of the transaction, the insider now owns 136,513 shares in the company, valued at approximately $ 8,877,440.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian John Smith sold 35,800 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $ 67.04, for a total value of $ 2,400,032.00. Following the completion of the transaction, the chief operating officer now owns 116,168 shares of the company stock, valued at approximately $ 7,787,902.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,161 shares of company stock valued at $ 26,786,278. Company insiders own 0.98% of the company stock.
Coca-Cola Company Profile: (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.
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