Telemus Capital LLC increased its stake in shares of Coca-Cola Co. (NYSE:KO) by 90.7% during the second quarter, Holdings Channel reports. The institutional investor owned 48,620 shares of the company’s stock after buying an additional 23,124 shares during the period. Telemus Capital LLC’s holdings in Coca-Cola were worth $2,204,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Country Trust Bank boosted its position 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 in the last quarter. Smith Affiliated Capital Corp. boosted its position 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 in the last quarter. Barnett & Company Inc. bought a new position in shares of Coca-Cola during the first quarter valued at $149,000. Arcadia Investment Management Corp MI boosted its position 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 in the last quarter. Finally, Cribstone Capital Management LLC bought a new position in shares of Coca-Cola during the second quarter valued at $161,000. Institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.51% during midday trading on Friday, hitting $42.74. The company had a trading volume of 8,852,719 shares. Coca-Cola Co. has a 52-week low of $39.33 and a 52-week high of $47.13. The stock has a 50 day moving average of $43.30 and a 200 day moving average of $44.71. The firm has a market cap of $184.47 billion, a price-to-earnings ratio of 24.59 and a beta of 0.57.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. Coca-Cola’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
A number of analysts have recently commented on the company. Stifel Nicolaus cut their price objective on Coca-Cola from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Sanford C. Bernstein set a $49.00 price objective on Coca-Cola and gave the company a “buy” rating in a research report on Thursday, July 28th. Vetr restated a “buy” rating on shares of Coca-Cola in a research report on Thursday, July 28th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target 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.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co. (NYSE:KO).
Receive News & Ratings for Coca-Cola Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Co. and related companies with MarketBeat.com's FREE daily email newsletter.