Brick & Kyle Associates increased its stake in Coca-Cola Co. (NYSE:KO) by 23.3% during the second quarter, Holdings Channel reports. The institutional investor owned 5,993 shares of the company’s stock after buying an additional 1,133 shares during the period. Brick & Kyle Associates’ holdings in Coca-Cola were worth $272,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock valued at $7,768,816,000 after buying an additional 1,511,559 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Coca-Cola by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 102,413,710 shares of the company’s stock worth $4,750,972,000 after buying an additional 843,493 shares in the last quarter. BlackRock Fund Advisors raised its position in Coca-Cola by 1.1% in the first quarter. BlackRock Fund Advisors now owns 56,120,005 shares of the company’s stock worth $2,603,407,000 after buying an additional 623,080 shares in the last quarter. Bank of New York Mellon Corp raised its position in Coca-Cola by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 47,084,172 shares of the company’s stock worth $2,134,326,000 after buying an additional 1,077,013 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in Coca-Cola by 0.8% in the second quarter. Suntrust Banks Inc. now owns 41,237,033 shares of the company’s stock worth $1,869,273,000 after buying an additional 330,121 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.14% during trading on Friday, hitting $41.65. 3,589,032 shares of the stock were exchanged. Coca-Cola Co. has a 12-month low of $40.75 and a 12-month high of $47.13. The firm has a market cap of $179.76 billion, a PE ratio of 23.96 and a beta of 0.59. The stock’s 50-day moving average price is $42.87 and its 200-day moving average price is $44.51.
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, beating the consensus estimate of $0.58 by $0.02. The business earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. On average, equities analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
KO has been the topic of a number of recent research reports. Vetr restated a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Sanford C. Bernstein set a $49.00 price objective on shares of Coca-Cola and gave the company a “buy” rating in a research note on Thursday, July 28th. Stifel Nicolaus dropped their price objective on shares of Coca-Cola from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Coca-Cola has a consensus rating of “Hold” and a consensus 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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