Coca-Cola Co. (KO) Shares Sold by Caz Investments LP
Caz Investments LP lowered its position in shares of Coca-Cola Co. (NYSE:KO) by 4.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 44,720 shares of the company’s stock after selling 2,210 shares during the period. Coca-Cola accounts for about 1.4% of Caz Investments LP’s portfolio, making the stock its 5th largest position. Caz Investments LP’s holdings in Coca-Cola were worth $1,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cambridge Advisors Inc. boosted its stake in Coca-Cola by 0.3% in the third quarter. Cambridge Advisors Inc. now owns 8,061 shares of the company’s stock worth $341,000 after buying an additional 22 shares during the last quarter. New England Private Wealth Advisors LLC boosted its stake in Coca-Cola by 0.5% in the second quarter. New England Private Wealth Advisors LLC now owns 5,358 shares of the company’s stock worth $242,000 after buying an additional 25 shares during the last quarter. RFG Advisory Group LLC boosted its stake in Coca-Cola by 0.7% in the second quarter. RFG Advisory Group LLC now owns 4,709 shares of the company’s stock worth $213,000 after buying an additional 32 shares during the last quarter. Alpha Windward LLC boosted its stake in Coca-Cola by 0.4% in the third quarter. Alpha Windward LLC now owns 7,453 shares of the company’s stock worth $315,000 after buying an additional 32 shares during the last quarter. Finally, Confluence Wealth Management LLC boosted its stake in Coca-Cola by 0.7% in the second quarter. Confluence Wealth Management LLC now owns 4,446 shares of the company’s stock worth $202,000 after buying an additional 33 shares during the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded down 1.94% on Wednesday, hitting $40.35. The stock had a trading volume of 22,410,367 shares. The firm has a market capitalization of $174.03 billion, a P/E ratio of 24.47 and a beta of 0.68. The company has a 50 day moving average of $41.75 and a 200-day moving average of $43.44. Coca-Cola Co. has a 12-month low of $40.35 and a 12-month high of $47.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.47 billion. Coca-Cola had a net margin of 16.99% and a return on equity of 32.47%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Equities analysts predict that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.40 annualized dividend and a yield of 3.47%. Coca-Cola’s dividend payout ratio is currently 84.85%.
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A number of research firms recently issued reports on KO. Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 price objective for the company in a research report on Tuesday, August 2nd. Sanford C. Bernstein reissued an “outperform” rating and set a $49.00 price objective on shares of Coca-Cola in a research report on Wednesday, August 10th. Societe Generale set a $44.00 target price on Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 8th. TheStreet lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, Stifel Nicolaus restated a “neutral” rating on shares of Coca-Cola in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.92.
In other Coca-Cola news, VP Kathy N. Waller sold 36,342 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $42.06, for a total value of $1,528,544.52. Following the transaction, the vice president now directly owns 104,345 shares of the company’s stock, valued at approximately $4,388,750.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.54% of the stock is currently owned by company insiders.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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