Cullen Investment Group LTD. grew its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,122 shares of the company’s stock after acquiring an additional 532 shares during the quarter. Cullen Investment Group LTD.’s holdings in Coca-Cola were worth $942,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new position in Coca-Cola in the 3rd quarter valued at approximately $58,000. 70.26% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.
Coca-Cola Stock Up 1.0 %
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. Coca-Cola’s payout ratio is 80.17%.
Analyst Ratings Changes
KO has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Piper Sandler began coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.60.
Read Our Latest Stock Analysis on KO
Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. 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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