North Star Investment Management Corp. Increases Stake in The Coca-Cola Co (KO)
North Star Investment Management Corp. boosted its position in The Coca-Cola Co (NYSE:KO) by 2.8% during the third quarter, Holdings Channel reports. The institutional investor owned 66,703 shares of the company’s stock after buying an additional 1,836 shares during the period. North Star Investment Management Corp.’s holdings in The Coca-Cola were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently bought and sold shares of the stock. Vigilant Capital Management LLC grew its position in The Coca-Cola by 646.8% in the 3rd quarter. Vigilant Capital Management LLC now owns 10,141 shares of the company’s stock valued at $468,000 after buying an additional 8,783 shares during the last quarter. Heritage Way Advisors LLC lifted its holdings in The Coca-Cola by 2.2% in the third quarter. Heritage Way Advisors LLC now owns 63,304 shares of the company’s stock valued at $2,924,000 after acquiring an additional 1,350 shares during the period. Harvest Capital Management Inc acquired a new stake in The Coca-Cola in the third quarter valued at $201,000. DNB Asset Management AS lifted its holdings in The Coca-Cola by 1.6% in the third quarter. DNB Asset Management AS now owns 934,953 shares of the company’s stock valued at $43,185,000 after acquiring an additional 15,120 shares during the period. Finally, Manning & Napier Group LLC lifted its holdings in The Coca-Cola by 21.3% in the third quarter. Manning & Napier Group LLC now owns 1,033,475 shares of the company’s stock valued at $47,735,000 after acquiring an additional 181,190 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.
KO has been the subject of a number of recent analyst reports. Macquarie set a $47.00 target price on The Coca-Cola and gave the company a “neutral” rating in a report on Friday, September 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a report on Thursday, July 26th. Morgan Stanley set a $49.00 target price on The Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, September 4th. Jefferies Financial Group reissued a “hold” rating and issued a $48.00 target price on shares of The Coca-Cola in a report on Friday, August 31st. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The Coca-Cola presently has an average rating of “Hold” and a consensus target price of $50.64.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. On average, analysts expect that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
In other news, VP Kathy N. Waller sold 48,354 shares of The Coca-Cola stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the transaction, the vice president now owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Murphy sold 111,468 shares of The Coca-Cola stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total value of $5,178,803.28. Following the transaction, the insider now directly owns 196,337 shares of the company’s stock, valued at approximately $9,121,817.02. The disclosure for this sale can be found here. Insiders have sold a total of 215,822 shares of company stock valued at $10,027,727 in the last ninety days. 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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