Conning Inc. raised its position in shares of Coca-Cola Co. (NYSE:KO) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 726,824 shares of the company’s stock after buying an additional 23,695 shares during the period. Coca-Cola makes up about 1.2% of Conning Inc.’s holdings, making the stock its 18th largest position. Conning Inc.’s holdings in Coca-Cola were worth $30,759,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Reynolds Capital Management LLC increased its position in shares of Coca-Cola by 67.5% in the first quarter. Reynolds Capital Management LLC now owns 20,100 shares of the company’s stock worth $932,000 after buying an additional 8,100 shares during the last quarter. Thomaspartners Inc. increased its position in Coca-Cola by 1.6% in the first quarter. Thomaspartners Inc. now owns 2,840,037 shares of the company’s stock worth $131,749,000 after buying an additional 44,238 shares in the last quarter. Renaissance Technologies LLC increased its position in Coca-Cola by 4.1% in the first quarter. Renaissance Technologies LLC now owns 5,255,599 shares of the company’s stock worth $243,807,000 after buying an additional 206,200 shares in the last quarter. Nuveen Asset Management LLC increased its position in Coca-Cola by 0.8% in the first quarter. Nuveen Asset Management LLC now owns 707,772 shares of the company’s stock worth $32,834,000 after buying an additional 5,912 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its position in Coca-Cola by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 2,227,470 shares of the company’s stock worth $103,756,000 after buying an additional 99,369 shares in the last quarter. 63.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded up 1.00% during trading on Friday, hitting $41.53. The stock had a trading volume of 7,402,652 shares. The firm’s 50-day moving average is $41.80 and its 200 day moving average is $43.55. The firm has a market cap of $179.12 billion, a price-to-earnings ratio of 25.18 and a beta of 0.68. Coca-Cola Co. has a 52-week low of $40.63 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.47 billion. Coca-Cola had a net margin of 16.99% and a return on equity of 32.47%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.37%. Coca-Cola’s dividend payout ratio (DPR) is presently 84.85%.
A number of research firms have weighed in on KO. Vetr downgraded Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $47.05 target price on the stock. in a report on Monday, August 15th. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Jefferies Group reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Finally, Independent Research GmbH set a $38.00 target price on Coca-Cola and gave the company a “sell” rating in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola has a consensus rating of “Hold” and a consensus price target of $46.90.
In related news, VP Kathy N. Waller sold 36,342 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $42.06, for a total transaction of $1,528,544.52. Following the sale, the vice president now owns 104,345 shares in the company, valued at $4,388,750.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.54% of the stock is currently owned by insiders.
Coca-Cola Company Profile