Coca-Cola Co. (KO) To Go Ex-Dividend on November 29th
Coca-Cola Co. (NYSE:KO) announced a quarterly dividend on Thursday, October 20th. Stockholders of record on Thursday, December 1st will be paid a dividend of 0.35 per share on Thursday, December 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 29th.
Shares of Coca-Cola (NYSE:KO) opened at 41.12 on Thursday. The stock’s 50 day moving average price is $41.80 and its 200-day moving average price is $43.57. Coca-Cola has a 52 week low of $40.63 and a 52 week high of $47.13. The company has a market cap of $177.35 billion, a PE ratio of 24.94 and a beta of 0.68.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The business earned $10.60 billion during the quarter, compared to the consensus estimate of $10.47 billion. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Analysts expect that Coca-Cola will post $1.91 EPS for the current year.
A number of equities research analysts have commented on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $49.00 price objective on shares of Coca-Cola in a research note on Wednesday, August 10th. Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.09 price objective for the company in a research note on Thursday, November 10th. SunTrust Banks Inc. reissued a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Zacks Investment Research raised 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 price objective on Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.90.
In related news, VP Kathy N. Waller sold 36,342 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was 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 in the company, valued at approximately $4,388,750.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.54% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KO. NorthRock Partners LLC acquired a new position in shares of Coca-Cola during the second quarter worth $765,000. Reliance Trust Co. of Delaware raised its position in shares of Coca-Cola by 2.7% in the second quarter. Reliance Trust Co. of Delaware now owns 395,425 shares of the company’s stock worth $17,925,000 after buying an additional 10,209 shares in the last quarter. Vaughan David Investments Inc. IL raised its position in shares of Coca-Cola by 0.4% in the second quarter. Vaughan David Investments Inc. IL now owns 464,087 shares of the company’s stock worth $21,037,000 after buying an additional 1,738 shares in the last quarter. Burney Co. raised its position in shares of Coca-Cola by 10.7% in the second quarter. Burney Co. now owns 36,121 shares of the company’s stock worth $1,637,000 after buying an additional 3,480 shares in the last quarter. Finally, Beaumont Financial Partners LLC raised its position in shares of Coca-Cola by 15.1% in the second quarter. Beaumont Financial Partners LLC now owns 9,467 shares of the company’s stock worth $429,000 after buying an additional 1,240 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.
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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.
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