ING Groep NV Increases Position in The Coca-Cola Co (KO)
ING Groep NV raised its position in The Coca-Cola Co (NYSE:KO) by 66.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 525,048 shares of the company’s stock after acquiring an additional 209,399 shares during the period. ING Groep NV’s holdings in The Coca-Cola were worth $24,252,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. WP Advisors LLC acquired a new position in shares of The Coca-Cola during the second quarter worth $107,000. Signature Estate & Investment Advisors LLC acquired a new stake in The Coca-Cola in the second quarter valued at $116,000. Westbourne Investment Advisors Inc. acquired a new stake in The Coca-Cola in the third quarter valued at $117,000. Fort L.P. acquired a new stake in The Coca-Cola in the second quarter valued at $122,000. Finally, Sageworth Trust Co raised its holdings in The Coca-Cola by 69.5% in the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
In related news, VP Larry M. Mark sold 75,538 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $49.51, for a total value of $3,739,886.38. Following the transaction, the vice president now 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 at this link. Also, insider Jennifer K. Mann sold 15,100 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.40, for a total value of $761,040.00. Following the transaction, the insider now owns 40,058 shares in the company, valued at approximately $2,018,923.20. The disclosure for this sale can be found here. Insiders sold 374,542 shares of company stock worth $18,436,957 in the last 90 days. 1.48% of the stock is currently owned by corporate insiders.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.39 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a yield of 3.18%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
Several analysts have weighed in on the stock. HSBC set a $61.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, September 27th. Jefferies Financial Group set a $48.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, September 6th. Morgan Stanley set a $49.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Wednesday, September 26th. Guggenheim initiated coverage on shares of The Coca-Cola in a report on Thursday, September 13th. They issued a “buy” rating and a $51.00 price objective for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $52.00 price objective on shares of The Coca-Cola in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.43.
About The Coca-Cola
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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