CRA Financial Services LLC Sells 279 Shares of Coca-Cola Co (The) (NYSE:KO)
CRA Financial Services LLC reduced its stake in Coca-Cola Co (The) (NYSE:KO) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,778 shares of the company’s stock after selling 279 shares during the quarter. CRA Financial Services LLC’s holdings in Coca-Cola were worth $680,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Aspiriant LLC lifted its holdings in shares of Coca-Cola by 5.2% in the 2nd quarter. Aspiriant LLC now owns 19,121 shares of the company’s stock valued at $854,000 after acquiring an additional 950 shares during the last quarter. AE Wealth Management LLC lifted its position in Coca-Cola by 59.9% during the second quarter. AE Wealth Management LLC now owns 327,510 shares of the company’s stock valued at $14,633,000 after purchasing an additional 122,633 shares during the period. WealthTrust Axiom LLC lifted its position in Coca-Cola by 1.5% during the second quarter. WealthTrust Axiom LLC now owns 21,779 shares of the company’s stock valued at $973,000 after purchasing an additional 321 shares during the period. Howland Capital Management LLC lifted its position in Coca-Cola by 3.6% during the second quarter. Howland Capital Management LLC now owns 51,342 shares of the company’s stock valued at $2,294,000 after purchasing an additional 1,807 shares during the period. Finally, Honkamp Krueger Financial Services Inc. lifted its position in Coca-Cola by 15.8% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 107,383 shares of the company’s stock valued at $4,798,000 after purchasing an additional 14,679 shares during the period. Institutional investors and hedge funds own 65.86% of the company’s stock.
In other news, Director David B. Weinberg sold 400,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $48.42, for a total value of $19,368,000.00. Following the completion of the sale, the director now owns 355,214 shares of the company’s stock, valued at approximately $17,199,461.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert Edward Long sold 37,534 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the completion of the sale, the senior vice president now directly owns 82,502 shares of the company’s stock, valued at approximately $3,977,421.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 836,439 shares of company stock valued at $40,380,407. 1.01% of the stock is owned by corporate insiders.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the prior year, the company earned $0.63 EPS. Coca-Cola’s revenue was down 28.0% compared to the same quarter last year. On average, sell-side analysts forecast that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.64 annualized dividend and a yield of 3.28%. Coca-Cola’s dividend payout ratio is presently 77.73%.
A number of research firms recently issued reports on KO. Morgan Stanley upgraded shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective for the company. in a research report on Tuesday, September 22nd. Finally, Bank of America reiterated a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a research report on Friday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.19.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based 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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