Crestwood Advisors Group LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)
Crestwood Advisors Group LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,390 shares of the company’s stock after selling 472 shares during the period. Crestwood Advisors Group LLC’s holdings in The Coca-Cola were worth $9,070,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. raised its position in shares of The Coca-Cola by 7.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 144,414 shares of the company’s stock valued at $7,130,000 after purchasing an additional 9,692 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in The Coca-Cola by 11.6% in the third quarter. Prestige Wealth Management Group LLC now owns 3,837 shares of the company’s stock valued at $189,000 after acquiring an additional 398 shares in the last quarter. Confluence Wealth Management LLC bought a new position in The Coca-Cola during the 3rd quarter valued at $220,000. Tradewinds Capital Management LLC boosted its stake in The Coca-Cola by 11.0% during the 3rd quarter. Tradewinds Capital Management LLC now owns 3,920 shares of the company’s stock valued at $194,000 after acquiring an additional 388 shares during the last quarter. Finally, Perennial Investment Advisors LLC grew its holdings in The Coca-Cola by 3.2% during the 3rd quarter. Perennial Investment Advisors LLC now owns 41,810 shares of the company’s stock worth $2,064,000 after acquiring an additional 1,290 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.
Several equities analysts have recently commented on KO shares. Morgan Stanley reduced their price target on shares of The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, January 14th. Guggenheim downgraded The Coca-Cola from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Sanford C. Bernstein initiated coverage on The Coca-Cola in a report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 price target for the company. HSBC reduced their price objective on The Coca-Cola from $61.00 to $58.00 in a research note on Wednesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $55.00 in a research note on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.76.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Monday, March 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, March 12th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s dividend payout ratio is currently 77.73%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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