Patten & Patten Inc. TN reduced its position in shares of The Coca-Cola Co (NYSE:KO) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,747 shares of the company’s stock after selling 1,590 shares during the period. Patten & Patten Inc. TN’s holdings in The Coca-Cola were worth $8,441,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Clarus Wealth Advisors acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $101,000. WP Advisors LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $107,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $116,000. Fort L.P. acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $122,000. Finally, BDO Wealth Advisors LLC boosted its holdings in The Coca-Cola by 104.9% during the second quarter. BDO Wealth Advisors LLC now owns 3,163 shares of the company’s stock worth $139,000 after purchasing an additional 1,619 shares during the last quarter. 65.45% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on KO shares. Citigroup set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Friday. Morgan Stanley set a $50.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, October 15th. Macquarie set a $47.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Friday, September 14th. Morningstar set a $49.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.43.
The Coca-Cola stock traded up $0.35 during trading hours on Friday, reaching $49.68. 12,398,061 shares of the stock were exchanged, compared to its average volume of 16,167,808. The company has a market capitalization of $210.61 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.23 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The Coca-Cola Co has a twelve month low of $41.45 and a twelve month high of $49.89.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts expect that The Coca-Cola Co will post 2.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.39 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.14%. The Coca-Cola’s payout ratio is currently 81.68%.
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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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