Woodstock Corp Sells 2,175 Shares of Coca-Cola Co. (KO)
Woodstock Corp decreased its stake in Coca-Cola Co. (NYSE:KO) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 71,350 shares of the company’s stock after selling 2,175 shares during the period. Woodstock Corp’s holdings in Coca-Cola were worth $3,020,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in KO. MCF Advisors LLC increased its stake in Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 valued at $113,000 after buying an additional 2,108 shares during the period. Country Trust Bank increased its stake in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the period. Lenox Wealth Management Inc. increased its stake in Coca-Cola by 38.0% in the second quarter. Lenox Wealth Management Inc. now owns 2,611 shares of the company’s stock valued at $118,000 after buying an additional 719 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock valued at $124,000 after buying an additional 174 shares during the period. 62.83% of the stock is currently owned by institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.60% during midday trading on Tuesday, hitting $41.15. 11,421,921 shares of the stock were exchanged. The firm has a 50-day moving average price of $41.80 and a 200 day moving average price of $43.49. Coca-Cola Co. has a 12-month low of $40.63 and a 12-month high of $47.13. The firm has a market cap of $177.48 billion, a PE ratio of 24.95 and a beta of 0.68.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 26th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business 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 company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.40%. Coca-Cola’s dividend payout ratio (DPR) is 84.85%.
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Several analysts have recently commented on KO shares. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Vetr downgraded shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.50 price objective on the stock. in a report on Monday. Independent Research GmbH set a $38.00 price objective on shares of Coca-Cola and gave the company a “sell” rating in a report on Monday, August 1st. RBC Capital Markets set a $49.00 price objective on shares of Coca-Cola and gave the company a “buy” rating in a report on Thursday, October 13th. Finally, Credit Suisse Group AG started coverage on shares of Coca-Cola in a report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.92.
In related news, VP Kathy N. Waller sold 36,342 shares of Coca-Cola 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 transaction, the vice president now directly owns 104,345 shares in the company, valued at approximately $4,388,750.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.54% of the stock is currently owned by corporate 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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