Northstar Investment Advisors LLC Sells 3,085 Shares of The Coca-Cola Co (KO)
Northstar Investment Advisors LLC decreased its stake in shares of The Coca-Cola Co (NYSE:KO) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,764 shares of the company’s stock after selling 3,085 shares during the period. Northstar Investment Advisors LLC’s holdings in The Coca-Cola were worth $936,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in The Coca-Cola by 1.4% during the third quarter. Vanguard Group Inc. now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after acquiring an additional 3,918,108 shares during the period. Vanguard Group Inc grew its position in The Coca-Cola by 1.4% during the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after acquiring an additional 3,918,108 shares during the period. Capital International Investors lifted its stake in shares of The Coca-Cola by 81.9% during the third quarter. Capital International Investors now owns 63,196,570 shares of the company’s stock worth $2,919,050,000 after purchasing an additional 28,445,747 shares in the last quarter. FMR LLC lifted its stake in shares of The Coca-Cola by 2.3% during the third quarter. FMR LLC now owns 50,012,668 shares of the company’s stock worth $2,310,085,000 after purchasing an additional 1,116,190 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of The Coca-Cola by 3.6% during the second quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after purchasing an additional 1,336,852 shares in the last quarter. 65.53% of the stock is owned by institutional investors.
A number of brokerages have commented on KO. Zacks Investment Research cut The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group reiterated a “neutral” rating and issued a $48.00 price target on shares of The Coca-Cola in a research note on Wednesday, October 17th. Macquarie reiterated a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a research note on Thursday, October 4th. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Morningstar set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, November 6th. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.78.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. As a group, analysts predict that The Coca-Cola Co will post 2.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
In related news, insider Brian John Smith sold 43,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total value of $2,064,000.00. Following the completion of the transaction, the insider now directly owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer K. Mann sold 15,100 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $50.40, for a total value of $761,040.00. Following the completion of the transaction, the insider now directly owns 40,058 shares of the company’s stock, valued at $2,018,923.20. The disclosure for this sale can be found here. Insiders sold a total of 374,542 shares of company stock valued at $18,436,957 over the last three months. Corporate insiders own 1.48% of the company’s stock.
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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