Crabel Capital Management LLC Takes $233,000 Position in The Coca-Cola Co (KO)
Crabel Capital Management LLC acquired a new position in shares of The Coca-Cola Co (NYSE:KO) in the 3rd quarter, Holdings Channel reports. The firm acquired 5,041 shares of the company’s stock, valued at approximately $233,000.
A number of other large investors have also recently made changes to their positions in KO. WP Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $107,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $116,000. Westbourne Investment Advisors Inc. bought a new stake in shares of The Coca-Cola in the 3rd quarter valued at about $117,000. Fort L.P. bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $122,000. Finally, Sageworth Trust Co increased its stake in shares of The Coca-Cola by 69.5% in the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after acquiring an additional 1,200 shares during the last quarter. 65.79% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on KO. Royal Bank of Canada reissued a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a research note on Monday. Citigroup set a $56.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, November 9th. Macquarie set a $50.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 8th. Morningstar set a $49.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, November 6th. Finally, Morgan Stanley increased their target price on The Coca-Cola from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, October 31st. One investment 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 company currently has an average rating of “Hold” and a consensus target price of $51.43.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The business’s revenue was down 9.2% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
In other news, VP Larry M. Mark sold 75,538 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $49.51, for a total value of $3,739,886.38. Following the completion of the sale, the vice president now owns 85,755 shares of the company’s stock, valued at approximately $4,245,730.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer K. Mann sold 15,100 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.40, for a total value of $761,040.00. Following the completion of the sale, the insider now directly owns 40,058 shares of the company’s stock, valued at approximately $2,018,923.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 374,542 shares of company stock valued at $18,436,957. Insiders own 1.48% of the company’s stock.
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The Coca-Cola Company 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 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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