Obermeyer Wood Investment Counsel Lllp Increases Stake in The Coca-Cola Company (KO)
Obermeyer Wood Investment Counsel Lllp grew its position in shares of The Coca-Cola Company (NYSE:KO) by 38.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,896 shares of the company’s stock after buying an additional 9,725 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in The Coca-Cola were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp lifted its holdings in shares of The Coca-Cola by 1.7% during the 4th quarter. King Luther Capital Management Corp now owns 2,447,508 shares of the company’s stock valued at $112,292,000 after buying an additional 40,020 shares during the last quarter. HRT Financial LLC acquired a new stake in The Coca-Cola in the 4th quarter worth approximately $925,000. BancorpSouth Bank acquired a new stake in The Coca-Cola in the 4th quarter worth approximately $3,696,000. LVW Advisors LLC lifted its holdings in The Coca-Cola by 9.0% in the 4th quarter. LVW Advisors LLC now owns 76,848 shares of the company’s stock worth $3,526,000 after purchasing an additional 6,357 shares during the last quarter. Finally, Cornerstone Capital Inc. lifted its holdings in The Coca-Cola by 65.0% in the 4th quarter. Cornerstone Capital Inc. now owns 11,165 shares of the company’s stock worth $512,000 after purchasing an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 66.07% of the company’s stock.
Several equities research analysts recently weighed in on KO shares. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Credit Suisse Group restated an “outperform” rating and issued a $53.00 target price (up from $51.00) on shares of The Coca-Cola in a report on Tuesday, February 20th. Jefferies Group set a $50.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, January 4th. Finally, Vetr lowered The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 target price for the company. in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $49.21.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The company had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.36 billion. During the same period in the previous year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. equities analysts anticipate that The Coca-Cola Company will post 2.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.49%. The Coca-Cola’s payout ratio is 81.68%.
In other news, insider Ed Hays sold 84,400 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total transaction of $4,009,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer K. Mann sold 1,883 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $45.00, for a total value of $84,735.00. Following the sale, the insider now owns 98,995 shares in the company, valued at $4,454,775. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,283 shares of company stock valued at $4,812,985. Corporate insiders own 1.48% of the company’s stock.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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