Haverford Trust Co. reduced its position in shares of Coca-Cola Co. (NYSE:KO) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,698,723 shares of the company’s stock after selling 25,426 shares during the period. Coca-Cola comprises about 1.9% of Haverford Trust Co.’s holdings, making the stock its 23rd largest position. Haverford Trust Co.’s holdings in Coca-Cola were worth $77,003,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. 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 worth $7,768,816,000 after buying an additional 1,511,559 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of 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 during the last quarter. BlackRock Fund Advisors increased its position in shares of 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 during the last quarter. Finally, Suntrust Banks Inc. increased its position in shares of 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 during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Co. (NYSE:KO) traded up 1.01% on Thursday, reaching $42.96. The company had a trading volume of 9,234,943 shares. Coca-Cola Co. has a 12-month low of $38.51 and a 12-month high of $47.13. The stock has a market capitalization of $185.42 billion, a PE ratio of 24.72 and a beta of 0.57. The stock’s 50 day moving average price is $43.35 and its 200-day moving average price is $44.73.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.50 billion for 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 company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. Equities analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
KO has been the topic of a number of research analyst reports. 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. Vetr downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Monday, June 6th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $45.00 target price (down previously from $47.00) on shares of Coca-Cola in a research note on Wednesday, June 29th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Coca-Cola currently has an average rating of “Hold” and a consensus target price of $46.75.
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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