Brookstone Capital Management lifted its stake in shares of The Coca-Cola Co (NYSE:KO) by 24.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,330 shares of the company’s stock after purchasing an additional 11,115 shares during the period. Brookstone Capital Management’s holdings in The Coca-Cola were worth $3,067,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of The Coca-Cola by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after acquiring an additional 4,225,080 shares during the last quarter. Northern Trust Corp lifted its stake in The Coca-Cola by 1.1% in the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after purchasing an additional 589,927 shares during the last quarter. Morgan Stanley lifted its stake in The Coca-Cola by 15.0% in the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after purchasing an additional 5,449,889 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in The Coca-Cola by 9,580.7% in the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after purchasing an additional 32,243,310 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in The Coca-Cola by 20.9% in the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock worth $1,172,359,000 after purchasing an additional 3,984,190 shares during the last quarter. Institutional investors own 67.32% of the company’s stock.
KO traded down $0.08 during trading on Friday, hitting $52.21. 6,997,608 shares of the company traded hands, compared to its average volume of 13,198,850. The stock’s 50-day simple moving average is $53.85 and its two-hundred day simple moving average is $52.23. The company has a market cap of $224.59 billion, a PE ratio of 25.10, a P/E/G ratio of 3.65 and a beta of 0.46. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50. The Coca-Cola Co has a 1 year low of $44.42 and a 1 year high of $55.92.
The Coca-Cola (NYSE:KO) last released its earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The firm had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.42 billion. During the same quarter last year, the business earned $0.57 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is currently 76.92%.
In related news, SVP Lisa Chang purchased 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the purchase, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at approximately $290,051.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $54.31, for a total value of $7,929,260.00. Following the sale, the insider now directly owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The disclosure for this sale can be found here. Insiders sold 403,026 shares of company stock valued at $22,037,406 in the last three months. 1.33% of the stock is currently owned by insiders.
KO has been the subject of several recent research reports. ValuEngine downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group boosted their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Guggenheim set a $59.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Co set a $60.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Buy” and a consensus price target of $55.95.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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