Liberty Capital Management Inc. decreased its stake in shares of Coca-Cola Co. (NYSE:KO) by 67.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,907 shares of the company’s stock after selling 6,000 shares during the period. Liberty Capital Management Inc.’s holdings in Coca-Cola were worth $122,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. increased its position in Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock worth $355,819,000 after buying an additional 6,408,420 shares during the period. Vanguard Group Inc. increased its position in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock worth $12,415,764,000 after buying an additional 5,478,675 shares during the period. Emerald Acquisition Ltd. purchased a new position in Coca-Cola during the second quarter worth approximately $233,278,000. Janus Capital Management LLC increased its position in Coca-Cola by 40.9% in the second quarter. Janus Capital Management LLC now owns 13,411,916 shares of the company’s stock worth $607,938,000 after buying an additional 3,891,114 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Coca-Cola by 128.8% in the second quarter. 1832 Asset Management L.P. now owns 6,166,040 shares of the company’s stock worth $468,114,000 after buying an additional 3,470,779 shares during the period. Institutional investors own 63.66% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded up 1.00% during trading on Friday, reaching $41.53. 7,402,652 shares of the company’s stock traded hands. Coca-Cola Co. has a 12 month low of $40.63 and a 12 month high of $47.13. The firm’s 50 day moving average is $41.80 and its 200 day moving average is $43.55. The company has a market cap of $179.12 billion, a P/E ratio of 25.18 and a beta of 0.68.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 16.99% and a return on equity of 32.47%. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.47 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. Coca-Cola’s revenue was down 6.9% compared to the same quarter last year. Analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.37%. Coca-Cola’s dividend payout ratio (DPR) is currently 84.85%.
A number of equities analysts recently commented on KO shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $49.00 price target on shares of Coca-Cola in a research note on Wednesday, August 10th. Vetr upgraded Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.09 target price for the company in a research note on Thursday, November 10th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. set a $44.00 target price on Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, October 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.90.
In other news, VP Kathy N. Waller sold 36,342 shares of the stock in a transaction that occurred on 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 directly owns 104,345 shares of the company’s stock, valued at $4,388,750.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.54% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.