Fieldpoint Private Advisors Inc. reduced its position in shares of Coca-Cola Co. (NYSE:KO) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 75,120 shares of the company’s stock after selling 70 shares during the period. Coca-Cola makes up about 2.3% of Fieldpoint Private Advisors Inc.’s holdings, making the stock its 15th largest position. Fieldpoint Private Advisors Inc.’s holdings in Coca-Cola were worth $3,405,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of KO. CHURCHILL MANAGEMENT Corp increased its position in Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the period. Credit Agricole S A increased its position in Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares during the period. Capstone Asset Management Co. increased its position in Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the period. Avalon Advisors LLC increased its position in Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock worth $30,707,000 after buying an additional 62,060 shares during the period. Finally, State Street Corp increased its position in Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock worth $7,768,816,000 after buying an additional 1,511,559 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.8722% on Friday, reaching $42.3966. 7,204,751 shares of the company traded hands. Coca-Cola Co. has a 1-year low of $39.36 and a 1-year high of $47.13. The stock has a 50-day moving average price of $43.16 and a 200 day moving average price of $44.63. The firm has a market capitalization of $182.98 billion, a P/E ratio of 24.3939 and a beta of 0.57.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
A number of equities analysts have issued reports on the company. Credit Suisse Group AG began coverage on Coca-Cola in a research note on Thursday, September 15th. They set a “neutral” rating and a $44.00 price target for the company. Vetr downgraded Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 target price on the stock. in a research note on Thursday, September 15th. Stifel Nicolaus downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday. Societe Generale set a $44.00 target price on Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Susquehanna restated a “hold” rating and issued a $39.00 target price on shares of Coca-Cola in a research note on Sunday, June 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. Coca-Cola currently has an average rating of “Hold” and an average target price of $46.75.
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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