Kemper Corp Master Retirement Trust decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 15.7% during the third quarter, Holdings Channel reports. The fund owned 80,500 shares of the company’s stock after selling 15,000 shares during the period. The Coca-Cola accounts for approximately 2.4% of Kemper Corp Master Retirement Trust’s holdings, making the stock its 12th biggest holding. Kemper Corp Master Retirement Trust’s holdings in The Coca-Cola were worth $3,718,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue boosted its position in The Coca-Cola by 0.9% in the third quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after buying an additional 4,973 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in The Coca-Cola by 1.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock valued at $10,236,000 after buying an additional 2,600 shares during the last quarter. First Command Financial Services Inc. boosted its position in The Coca-Cola by 73.2% in the third quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock valued at $883,000 after buying an additional 8,084 shares during the last quarter. HPM Partners LLC boosted its position in The Coca-Cola by 3.0% in the second quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock valued at $4,399,000 after buying an additional 2,931 shares during the last quarter. Finally, Baldwin Investment Management LLC purchased a new stake in The Coca-Cola in the second quarter valued at approximately $272,000. Institutional investors and hedge funds own 65.67% of the company’s stock.
In related news, insider James L. Dinkins sold 9,150 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $49.95, for a total value of $457,042.50. Following the completion of the transaction, the insider now directly owns 30,400 shares of the company’s stock, valued at approximately $1,518,480. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the completion of the transaction, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,542 shares of company stock valued at $18,436,957. Corporate insiders own 1.48% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. On average, sell-side analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s payout ratio is 81.68%.
KO has been the topic of several recent research reports. Barclays restated a “buy” rating and issued a $50.00 price objective on shares of The Coca-Cola in a research report on Friday, October 5th. Zacks Investment Research lowered The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. HSBC restated a “buy” rating and issued a $64.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 31st. Jefferies Financial Group set a $48.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, September 6th. Finally, ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.43.
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The Coca-Cola Company Profile
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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