West Chester Capital Advisors Inc. purchased a new position in Coca-Cola Co. (NYSE:KO) during the second quarter, Holdings Channel reports. The institutional investor purchased 13,325 shares of the company’s stock, valued at approximately $604,000. Coca-Cola comprises about 0.9% of West Chester Capital Advisors Inc.’s holdings, making the stock its 23rd largest position.
Several other institutional investors have also modified their holdings of KO. HHG & Company LLC increased its position in shares of Coca-Cola by 0.6% in the first quarter. HHG & Company LLC now owns 39,723 shares of the company’s stock worth $1,843,000 after buying an additional 223 shares during the last quarter. Carroll Financial Associates Inc. increased its position in Coca-Cola by 0.9% in the first quarter. Carroll Financial Associates Inc. now owns 105,610 shares of the company’s stock valued at $4,899,000 after buying an additional 992 shares during the last quarter. Stokes & Hubbell Capital Management LLC increased its position in Coca-Cola by 1.7% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 85,234 shares of the company’s stock valued at $3,954,000 after buying an additional 1,400 shares during the last quarter. Bridges Investment Management Inc. increased its position in Coca-Cola by 9.3% in the first quarter. Bridges Investment Management Inc. now owns 45,127 shares of the company’s stock valued at $1,770,000 after buying an additional 3,850 shares during the last quarter. Finally, Lincluden Management Ltd. increased its position in Coca-Cola by 0.4% in the first quarter. Lincluden Management Ltd. now owns 70,996 shares of the company’s stock valued at $3,294,000 after buying an additional 305 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.45% during mid-day trading on Thursday, hitting $41.59. 4,833,753 shares of the stock were exchanged. The stock has a market cap of $179.50 billion, a PE ratio of 23.93 and a beta of 0.59. Coca-Cola Co. has a one year low of $40.75 and a one year high of $47.13. The company has a 50-day moving average of $42.61 and a 200 day moving average of $44.40.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
KO has been the topic of several research reports. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $45.00 target price (down from $47.00) on shares of Coca-Cola in a research report on Wednesday, June 29th. BMO Capital Markets reissued an “outperform” rating on shares of Coca-Cola in a research report on Friday, July 15th. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a research report on Sunday, July 17th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.60.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co. (NYSE:KO).
Receive News & Ratings for Coca-Cola Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Co. and related companies with MarketBeat.com's FREE daily email newsletter.