Parkwood LLC increased its position in shares of Coca-Cola Co. (NYSE:KO) by 11.4% during the second quarter, Holdings Channel reports. The institutional investor owned 108,243 shares of the company’s stock after buying an additional 11,107 shares during the period. Coca-Cola accounts for 0.8% of Parkwood LLC’s holdings, making the stock its 22nd largest position. Parkwood LLC’s holdings in Coca-Cola were worth $4,907,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. State Street Corp raised its stake 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake 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 stake 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. Geode Capital Management LLC raised its stake in Coca-Cola by 1.6% in the first quarter. Geode Capital Management LLC now owns 31,438,123 shares of the company’s stock worth $1,455,401,000 after buying an additional 481,442 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Coca-Cola by 11.9% in the first quarter. TIAA CREF Investment Management LLC now owns 23,348,604 shares of the company’s stock worth $1,083,142,000 after buying an additional 2,475,256 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.22% on Friday, reaching $41.67. 9,893,840 shares of the company were exchanged. The company’s 50 day moving average is $42.50 and its 200 day moving average is $44.35. Coca-Cola Co. has a 12-month low of $40.75 and a 12-month high of $47.13. The firm has a market capitalization of $179.85 billion, a PE ratio of 23.98 and a beta of 0.59.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. Analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s payout ratio is 80.46%.
KO has been the subject of a number of analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $50.00 target price on shares of Coca-Cola in a report on Monday, September 19th. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Finally, Vetr raised shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 target price for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.60.
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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