BNP Paribas Arbitrage SA increased its stake in shares of Coca-Cola Co. (NYSE:KO) by 19.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,099,270 shares of the company’s stock after buying an additional 345,810 shares during the period. BNP Paribas Arbitrage SA’s holdings in Coca-Cola were worth $95,160,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Balentine LLC boosted its position in Coca-Cola by 1.2% in the first quarter. Balentine LLC now owns 7,599 shares of the company’s stock valued at $353,000 after buying an additional 89 shares during the period. Clarius Group LLC boosted its position in Coca-Cola by 3.7% in the first quarter. Clarius Group LLC now owns 5,819 shares of the company’s stock valued at $269,000 after buying an additional 205 shares during the period. Gillespie Robinson & Grimm Inc. boosted its position in Coca-Cola by 3.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 6,920 shares of the company’s stock valued at $319,000 after buying an additional 220 shares during the period. HHG & Company LLC boosted its position in Coca-Cola by 0.6% in the first quarter. HHG & Company LLC now owns 39,723 shares of the company’s stock valued at $1,843,000 after buying an additional 223 shares during the period. Finally, Donald L. Hagan LLC boosted its position in Coca-Cola by 1.0% in the first quarter. Donald L. Hagan LLC now owns 23,251 shares of the company’s stock valued at $1,079,000 after buying an additional 228 shares during the period. Institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded up 0.69% during trading on Friday, reaching $42.32. 14,375,702 shares of the company’s stock traded hands. Coca-Cola Co. has a 52-week low of $40.43 and a 52-week high of $47.13. The company’s 50 day moving average is $43.12 and its 200-day moving average is $44.61. The stock has a market cap of $182.65 billion, a price-to-earnings ratio of 24.35 and a beta of 0.57.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
Several research analysts recently commented on KO shares. Susquehanna restated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Stifel Nicolaus restated a “neutral” rating on shares of Coca-Cola in a report on Friday. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, July 12th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Finally, Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Coca-Cola presently has an average rating of “Hold” and an average price target of $46.50.
Coca-Cola Company Profile
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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