Focused Investors LLC Sells 52,400 Shares of The Coca-Cola Co (NYSE:KO)
Focused Investors LLC reduced its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,501,300 shares of the company’s stock after selling 52,400 shares during the quarter. The Coca-Cola makes up approximately 3.4% of Focused Investors LLC’s holdings, making the stock its 18th biggest position. Focused Investors LLC’s holdings in The Coca-Cola were worth $76,446,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of KO. BlackRock Inc. grew its stake in shares of The Coca-Cola by 2.9% in the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after buying an additional 7,272,015 shares in the last quarter. FMR LLC grew its stake in shares of The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after buying an additional 11,126,961 shares in the last quarter. Northern Trust Corp grew its stake in shares of The Coca-Cola by 3.6% in the fourth quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock valued at $2,394,872,000 after buying an additional 1,771,500 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The Coca-Cola in the fourth quarter valued at $1,717,527,000. 66.81% of the stock is owned by institutional investors.
In other news, SVP Beatriz R. Perez sold 14,000 shares of The Coca-Cola stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total transaction of $747,600.00. Following the completion of the sale, the senior vice president now owns 108,457 shares of the company’s stock, valued at $5,791,603.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Francisco Crespo sold 125,948 shares of The Coca-Cola stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares of the company’s stock, valued at approximately $9,331,550. The disclosure for this sale can be found here. Insiders have sold 339,726 shares of company stock valued at $16,996,023 in the last three months. Insiders own 1.33% of the company’s stock.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
Several research firms recently weighed in on KO. Royal Bank of Canada raised shares of Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $12.00 to $14.00 in a research note on Wednesday. Wells Fargo & Co raised their price target on Restaurant Brands International from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. HSBC reaffirmed a “neutral” rating and set a $52.00 price target on shares of The Coca-Cola in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday. Finally, Credit Suisse Group raised their price target on Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.45.
About The Coca-Cola
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 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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