Guinness Asset Management Ltd increased its stake in Coca-Cola Co. (NYSE:KO) by 21.2% during the second quarter, Holdings Channel reports. The fund owned 126,430 shares of the company’s stock after buying an additional 22,100 shares during the period. Guinness Asset Management Ltd’s holdings in Coca-Cola were worth $5,731,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Country Trust Bank raised its stake in shares of 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 during the last quarter. Smith Affiliated Capital Corp. raised its stake in shares of 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 during the last quarter. Barnett & Company Inc. bought a new stake in shares of Coca-Cola during the first quarter valued at approximately $149,000. Arcadia Investment Management Corp MI raised its stake in shares of 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 during the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $161,000. Institutional investors own 64.30% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.17% during trading on Monday, reaching $41.60. The company’s stock had a trading volume of 10,792,512 shares. The stock’s 50-day moving average is $42.45 and its 200 day moving average is $44.29. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13. The firm has a market capitalization of $179.55 billion, a price-to-earnings ratio of 23.94 and a beta of 0.59.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm 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 business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. On average, analysts predict that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
Several research firms have recently issued reports on KO. Vetr reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Sanford C. Bernstein set a $49.00 price target on Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, July 28th. Stifel Nicolaus cut their price target on Coca-Cola from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Coca-Cola presently has an average rating of “Hold” and an average price target 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.
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