First Hawaiian Bank lessened its holdings in The Coca-Cola Company (NYSE: KO – Get Rating) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,344 shares of the company stock after selling 388 shares during the period. First Hawaiian Bank’s holdings in Coca-Cola were worth $ 889,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KO. OLD Mission Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $ 244,000. Morgan Stanley lifted its stake in shares of Coca-Cola by 2.0% during the second quarter. Morgan Stanley now owns 48,263,840 shares of the company stock valued at $ 2,611,557,000 after buying an additional 951,106 shares during the period. New World Advisors LLC purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $ 393,000. EagleClaw Capital Managment LLC lifted its stake in shares of Coca-Cola by 1.3% during the third quarter. EagleClaw Capital Managment LLC now owns 16,154 shares of the company stock valued at $ 846,000 after buying an additional 200 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Coca-Cola by 14.9% during the third quarter. Thrivent Financial for Lutherans now owns 592,843 shares of the company stock valued at $ 31,413,000 after buying an additional 76,775 shares during the period. 68.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of KO stock opened at $ 60.70 on Wednesday. The company has a market capitalization of $ 263.14 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.45 and a beta of 0.58. The firm has a fifty day simple moving average of $ 63.52 and a 200-day simple moving average of $ 61.45. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The Coca-Cola Company has a twelve month low of $ 52.28 and a twelve month high of $ 67.20.
Coca-Cola (NYSE: KO – Get Rating) last announced its earnings results on Monday, April 25th. The company reported $ 0.64 earnings per share for the quarter, beating the consensus estimate of $ 0.58 by $ 0.06. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The business had revenue of $ 10.50 billion during the quarter, compared to the consensus estimate of $ 9.83 billion. During the same period in the prior year, the firm earned $ 0.55 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a $ 0.44 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $ 1.76 dividend on an annualized basis and a dividend yield of 2.90%. Coca-Cola’s payout ratio is currently 73.95%.
In other news, SVP Beatriz R. Perez sold 143,924 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $ 64.78, for a total value of $ 9,323,396.72. Following the transaction, the senior vice president now directly owns 121,178 shares in the company, valued at approximately $ 7,849,910.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 153,466 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 65.03, for a total transaction of $ 9,979,893.98. Following the completion of the transaction, the insider now owns 136,513 shares in the company, valued at $ 8,877,440.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,161 shares of company stock worth $ 26,786,278. Insiders own 0.98% of the company stock.
Several equities analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Coca-Cola from $ 68.00 to $ 71.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Cowen upped their price target 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. Citigroup upped their price target on shares of Coca-Cola from $ 65.00 to $ 68.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. DZ Bank lowered shares of Coca-Cola from a “buy” rating to a “hold” rating and set a $ 69.00 price target for the company. in a research report on Thursday, April 28th. Finally, Cowen upped their price target 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $ 68.05.
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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