Rehmann Capital Advisory Group Lowers Position in Coca-Cola Co. (KO)
Rehmann Capital Advisory Group lowered its stake in shares of Coca-Cola Co. (NYSE:KO) by 4.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,099 shares of the company’s stock after selling 1,545 shares during the period. Rehmann Capital Advisory Group’s holdings in Coca-Cola were worth $1,358,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in KO. MCF Advisors LLC boosted its stake in shares of Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of Coca-Cola by 6.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 2,377 shares of the company’s stock worth $101,000 after buying an additional 150 shares during the last quarter. Country Trust Bank boosted its stake in shares of Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares during the last quarter. Finally, Lowe fs LLC boosted its stake in shares of Coca-Cola by 28.2% in the third quarter. Lowe fs LLC now owns 2,731 shares of the company’s stock worth $116,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.60% during trading on Tuesday, reaching $41.15. 11,421,921 shares of the company’s stock traded hands. The firm has a market cap of $177.48 billion, a PE ratio of 24.95 and a beta of 0.68. Coca-Cola Co. has a 12 month low of $40.63 and a 12 month high of $47.13. The firm has a 50 day moving average price of $41.80 and a 200-day moving average price of $43.47.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 26th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 16.99% and a return on equity of 32.47%. The firm earned $10.60 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 84.85%.
KO has been the subject of a number of recent analyst reports. Citigroup Inc. reissued a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a report on Monday, September 19th. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Jefferies Group reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Finally, Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 price objective for the company in a report on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Coca-Cola currently has a consensus rating of “Hold” and an average target price of $46.92.
In other news, VP Kathy N. Waller sold 36,342 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now owns 104,345 shares of the company’s stock, valued at approximately $4,388,750.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.54% of the stock is currently owned by insiders.
Coca-Cola Company Profile
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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