Homrich & Berg increased its position in shares of The Coca-Cola Company (NYSE:KO) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,750 shares of the company’s stock after acquiring an additional 14,012 shares during the quarter. The Coca-Cola makes up about 0.3% of Homrich & Berg’s portfolio, making the stock its 25th biggest holding. Homrich & Berg’s holdings in The Coca-Cola were worth $12,901,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in KO. Norges Bank acquired a new position in shares of The Coca-Cola during the 4th quarter valued at about $2,345,618,000. Arrowstreet Capital Limited Partnership boosted its position in shares of The Coca-Cola by 536.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,465,534 shares of the company’s stock valued at $498,928,000 after acquiring an additional 7,977,794 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of The Coca-Cola by 100,495.4% during the 1st quarter. King Luther Capital Management Corp now owns 4,225,008 shares of the company’s stock valued at $222,700,000 after acquiring an additional 4,220,808 shares during the last quarter. Vontobel Asset Management Inc. raised its holdings in The Coca-Cola by 49.8% in the 1st quarter. Vontobel Asset Management Inc. now owns 11,872,856 shares of the company’s stock valued at $649,350,000 after buying an additional 3,945,728 shares during the period. Finally, Amundi Asset Management US Inc. raised its holdings in The Coca-Cola by 47.0% in the 1st quarter. Amundi Asset Management US Inc. now owns 11,195,967 shares of the company’s stock valued at $590,141,000 after buying an additional 3,578,349 shares during the period. 66.21% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO James Quincey sold 110,000 shares of the stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $54.48, for a total value of $5,992,800.00. Following the completion of the sale, the chief executive officer now directly owns 266,718 shares of the company’s stock, valued at $14,530,796.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy Quan sold 19,911 shares of the stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $56.50, for a total value of $1,124,971.50. Following the completion of the sale, the senior vice president now directly owns 196,745 shares of the company’s stock, valued at $11,116,092.50. The disclosure for this sale can be found here. Insiders sold 185,303 shares of company stock valued at $10,213,630 over the last three months. Corporate insiders own 1.01% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $9.30 billion. The Coca-Cola had a return on equity of 41.48% and a net margin of 21.59%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts forecast that The Coca-Cola Company will post 2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, September 14th. The Coca-Cola’s payout ratio is currently 86.15%.
Several brokerages recently issued reports on KO. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, June 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of The Coca-Cola from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of The Coca-Cola from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, July 16th. Morgan Stanley boosted their price target on shares of The Coca-Cola from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Argus boosted their price target on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, June 17th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.33.
About The Coca-Cola
The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.
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