The Coca-Cola Co (NYSE:KO) Shares Sold by Truewealth LLC
Truewealth LLC lowered its position in The Coca-Cola Co (NYSE:KO) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,194,543 shares of the company’s stock after selling 3,201 shares during the quarter. The Coca-Cola accounts for approximately 25.9% of Truewealth LLC’s holdings, making the stock its biggest holding. Truewealth LLC’s holdings in The Coca-Cola were worth $55,976,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new stake in The Coca-Cola in the 1st quarter worth about $28,000. Orrstown Financial Services Inc. boosted its stake in The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in The Coca-Cola in the 1st quarter worth about $35,000. Transamerica Financial Advisors Inc. boosted its stake in The Coca-Cola by 567.7% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock worth $41,000 after buying an additional 721 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in The Coca-Cola in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 66.83% of the company’s stock.
KO has been the topic of several analyst reports. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, May 8th. Goldman Sachs Group reiterated a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a report on Thursday, February 14th. UBS Group boosted their price target on The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Citigroup downgraded The Coca-Cola from a “buy” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $50.00 in a report on Thursday, February 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $56.00 price target on shares of The Coca-Cola in a report on Wednesday, February 13th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $51.05.
Shares of KO stock opened at $51.33 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.48. The Coca-Cola Co has a 1 year low of $42.96 and a 1 year high of $52.19. The firm has a market cap of $219.66 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 3.46 and a beta of 0.50.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The company had revenue of $8 billion during the quarter, compared to analyst estimates of $7.89 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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