Chesley Taft & Associates LLC lowered its stake in Coca-Cola Co. (NYSE:KO) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,687 shares of the company’s stock after selling 1,675 shares during the period. Chesley Taft & Associates LLC’s holdings in Coca-Cola were worth $10,185,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Country Trust Bank raised its stake in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock valued at $113,000 after buying an additional 500 shares in the last quarter. Smith Affiliated Capital Corp. raised its stake in Coca-Cola by 147.2% in the second quarter. Smith Affiliated Capital Corp. now owns 3,023 shares of the company’s stock valued at $137,000 after buying an additional 1,800 shares in the last quarter. Barnett & Company Inc. bought a new stake in Coca-Cola during the first quarter valued at $149,000. Arcadia Investment Management Corp MI raised its stake in Coca-Cola by 1.5% in the second quarter. Arcadia Investment Management Corp MI now owns 3,469 shares of the company’s stock valued at $157,000 after buying an additional 52 shares in the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in Coca-Cola during the second quarter valued at $161,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) remained flat at $41.73 during trading on Monday. The stock had a trading volume of 8,983,623 shares. The company’s 50-day moving average price is $42.73 and its 200 day moving average price is $44.44. Coca-Cola Co. has a 52 week low of $40.75 and a 52 week high of $47.13. The stock has a market capitalization of $180.11 billion, a PE ratio of 24.01 and a beta of 0.59.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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. The business earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.35 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.35%. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
Several analysts have recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Susquehanna reiterated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. BMO Capital Markets reiterated an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 price objective on shares of Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, July 12th. Finally, Vetr upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research note on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.50.
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.
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