Donaldson Capital Management LLC Lowers Holdings in The Coca-Cola Co (KO)
Donaldson Capital Management LLC lessened its stake in The Coca-Cola Co (NYSE:KO) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,994 shares of the company’s stock after selling 5,780 shares during the quarter. Donaldson Capital Management LLC’s holdings in The Coca-Cola were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. C WorldWide Group Holding A S grew its position in shares of The Coca-Cola by 873.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after buying an additional 6,846,641 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $206,654,000. Natixis grew its position in shares of The Coca-Cola by 218.3% during the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after buying an additional 2,798,257 shares during the period. Bank of Montreal Can grew its position in shares of The Coca-Cola by 47.4% during the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after buying an additional 1,907,604 shares during the period. Finally, Unigestion Holding SA acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $78,078,000. Hedge funds and other institutional investors own 65.51% of the company’s stock.
Shares of KO opened at $49.74 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The Coca-Cola Co has a twelve month low of $41.45 and a twelve month high of $50.24. The company has a market capitalization of $212.70 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.27 and a beta of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s payout ratio is currently 81.68%.
In other news, VP Larry M. Mark sold 75,538 shares of The Coca-Cola stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $49.51, for a total value of $3,739,886.38. Following the sale, the vice president now directly owns 85,755 shares in the company, valued at $4,245,730.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the sale, the senior vice president now owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,442 shares of company stock worth $17,675,917. Insiders own 1.48% of the company’s stock.
Several equities research analysts have recently commented on the stock. HSBC set a $61.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $48.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, September 6th. Morgan Stanley set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Wednesday, September 26th. Guggenheim began coverage on shares of The Coca-Cola in a research note on Thursday, September 13th. They set a “buy” rating and a $51.00 price objective on the stock. Finally, Bank of America reissued a “buy” rating and set a $52.00 price objective on shares of The Coca-Cola in a research note on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The Coca-Cola has an average rating of “Hold” and a consensus price target of $51.43.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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