Fort L.P. Raises Position in The Coca-Cola Co (KO)

Fort L.P. increased its stake in The Coca-Cola Co (NYSE:KO) by 76.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,737 shares of the company’s stock after purchasing an additional 15,440 shares during the quarter. Fort L.P.’s holdings in The Coca-Cola were worth $1,692,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KO. Transamerica Financial Advisors Inc. boosted its position in The Coca-Cola by 567.7% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock valued at $41,000 after buying an additional 721 shares during the period. Financial Gravity Companies Inc. purchased a new stake in The Coca-Cola in the 4th quarter valued at about $45,000. Cordasco Financial Network boosted its position in The Coca-Cola by 26.1% in the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock valued at $49,000 after buying an additional 214 shares during the period. Country Trust Bank boosted its position in The Coca-Cola by 2,506.7% in the 4th quarter. Country Trust Bank now owns 1,173 shares of the company’s stock valued at $56,000 after buying an additional 1,128 shares during the period. Finally, Financial Advantage Inc. purchased a new stake in The Coca-Cola in the 4th quarter valued at about $59,000. Institutional investors own 67.83% of the company’s stock.

Shares of KO opened at $46.95 on Wednesday. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84. The company has a market capitalization of $200.50 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 3.14 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.05 and a quick ratio of 0.95.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The Coca-Cola had a net margin of 20.20% and a return on equity of 43.91%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Co will post 2.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s dividend payout ratio is presently 76.92%.

KO has been the subject of several research reports. Credit Suisse Group initiated coverage on shares of The Coca-Cola in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 price objective on shares of The Coca-Cola in a research report on Thursday, February 14th. ValuEngine cut shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Goldman Sachs Group reissued a “neutral” rating and issued a $47.00 price objective on shares of The Coca-Cola in a research report on Thursday, February 14th. Finally, Citigroup cut shares of The Coca-Cola from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $50.00 in a research report on Thursday, February 14th. Sixteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and an average target price of $50.60.

In other news, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $48.76, for a total value of $1,060,139.92. Following the completion of the sale, the insider now owns 92,645 shares of the company’s stock, valued at approximately $4,517,370.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,493,282.50. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: “Fort L.P. Raises Position in The Coca-Cola Co (KO)” was first posted by PressOracle and is the property of of PressOracle. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://pressoracle.com/news/2019/04/17/fort-l-p-raises-position-in-the-coca-cola-co-ko.html.

The Coca-Cola Profile

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 plant–based 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.

Featured Article: No Load Funds

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.