Wheatland Advisors Inc. reduced its holdings in shares of The Coca-Cola Co (NYSE:KO) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,350 shares of the company’s stock after selling 500 shares during the quarter. Wheatland Advisors Inc.’s holdings in The Coca-Cola were worth $1,189,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Davy Asset Management Ltd acquired a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $891,000. Curbstone Financial Management Corp boosted its position in shares of The Coca-Cola by 6.0% in the 2nd quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after purchasing an additional 1,170 shares during the period. Marathon Capital Management boosted its position in shares of The Coca-Cola by 7.0% in the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after purchasing an additional 712 shares during the period. Boston Advisors LLC boosted its position in shares of The Coca-Cola by 257.9% in the 2nd quarter. Boston Advisors LLC now owns 112,785 shares of the company’s stock valued at $5,743,000 after purchasing an additional 81,271 shares during the period. Finally, Armbruster Capital Management Inc. boosted its position in shares of The Coca-Cola by 1.9% in the 1st quarter. Armbruster Capital Management Inc. now owns 13,602 shares of the company’s stock valued at $637,000 after purchasing an additional 250 shares during the period. 66.84% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on KO shares. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Atlantic Securities started coverage on The Coca-Cola in a research report on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price for the company. Credit Suisse Group upped their price objective on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The Coca-Cola has an average rating of “Buy” and a consensus target price of $54.10.
In other news, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the completion of the transaction, the senior vice president now directly owns 57,538 shares of the company’s stock, valued at approximately $2,875,173.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $54.31, for a total value of $7,929,260.00. Following the transaction, the insider now directly owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 488,761 shares of company stock valued at $25,417,705. Company insiders own 1.33% of the company’s stock.
KO traded down $0.75 on Friday, hitting $53.74. 9,573,642 shares of the company traded hands, compared to its average volume of 12,777,964. The stock has a market capitalization of $233.00 billion, a PE ratio of 25.84, a PEG ratio of 3.79 and a beta of 0.48. The company has a 50 day moving average of $52.94 and a 200-day moving average of $49.30. The Coca-Cola Co has a 12-month low of $44.25 and a 12-month high of $54.82. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
The Coca-Cola Company 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.
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