New England Private Wealth Advisors LLC raised its stake in Coca-Cola Co. (NYSE:KO) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,358 shares of the company’s stock after buying an additional 25 shares during the period. New England Private Wealth Advisors LLC’s holdings in Coca-Cola were worth $242,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Country Trust Bank boosted its position 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. Harel Insurance Investments & Financial Services Ltd. boosted its position in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock valued at $113,000 after buying an additional 2,108 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock valued at $124,000 after buying an additional 174 shares during the last quarter. Taylor Wealth Management Partners raised its stake in Coca-Cola by 128.5% in the second quarter. Taylor Wealth Management Partners now owns 2,970 shares of the company’s stock valued at $135,000 after buying an additional 1,670 shares during the last quarter. Finally, 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 during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.07% during trading on Friday, hitting $41.68. The stock had a trading volume of 3,297,791 shares. The stock has a market cap of $179.89 billion, a price-to-earnings ratio of 23.98 and a beta of 0.59. The stock’s 50-day moving average is $42.87 and its 200-day moving average is $44.51. Coca-Cola Co. has a 12-month low of $40.75 and a 12-month high of $47.13.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The company had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the firm earned $0.63 earnings per share. Coca-Cola’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
KO has been the subject of several analyst reports. Vetr raised 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. 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. reaffirmed a “neutral” rating and set 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 reaffirmed an “outperform” rating on shares of Coca-Cola in a research report on Friday, July 15th. Finally, Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Sunday, July 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Coca-Cola presently has an average rating of “Hold” and a consensus target price 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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