Nicola Wealth Management LTD. Decreases Stake in The Coca-Cola Co (KO)
Nicola Wealth Management LTD. reduced its holdings in shares of The Coca-Cola Co (NYSE:KO) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,367 shares of the company’s stock after selling 5,222 shares during the quarter. Nicola Wealth Management LTD.’s holdings in The Coca-Cola were worth $1,991,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. MML Investors Services LLC grew its stake in shares of The Coca-Cola by 41.5% in the third quarter. MML Investors Services LLC now owns 365,155 shares of the company’s stock valued at $16,867,000 after buying an additional 107,069 shares in the last quarter. Motco grew its stake in shares of The Coca-Cola by 1.6% in the third quarter. Motco now owns 94,959 shares of the company’s stock valued at $4,387,000 after buying an additional 1,485 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of The Coca-Cola by 10.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 392,643 shares of the company’s stock valued at $18,136,000 after buying an additional 38,211 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in shares of The Coca-Cola by 6.6% in the third quarter. Wetherby Asset Management Inc. now owns 75,678 shares of the company’s stock valued at $3,495,000 after buying an additional 4,699 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of The Coca-Cola by 15.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,250,187 shares of the company’s stock valued at $57,746,000 after buying an additional 165,892 shares in the last quarter. 65.79% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on KO. Gabelli reissued a “hold” rating on shares of The Coca-Cola in a research note on Thursday, July 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research note on Thursday, July 26th. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, November 6th. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the company a “buy” rating in a report on Monday. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $48.00 price target on shares of The Coca-Cola in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $51.43.
KO opened at $50.51 on Tuesday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98. The firm has a market cap of $214.02 billion, a PE ratio of 26.45, a PEG ratio of 3.29 and a beta of 0.60.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The company had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola Co will post 2.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is currently 81.68%.
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About The Coca-Cola
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 plantbased 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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