Karpas Strategies LLC continued to hold its position in Coca-Cola Co. (NYSE:KO) during the second quarter, Holdings Channel reports. The fund owned 23,700 shares of the company’s stock at the end of the second quarter. Karpas Strategies LLC’s holdings in Coca-Cola were worth $1,074,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Highstreet Asset Management Inc. raised its stake in shares of Coca-Cola by 23.8% in the second quarter. Highstreet Asset Management Inc. now owns 65,597 shares of the company’s stock worth $2,974,000 after buying an additional 12,594 shares during the period. Oakbrook Investments LLC raised its stake in shares of Coca-Cola by 7.5% in the second quarter. Oakbrook Investments LLC now owns 345,784 shares of the company’s stock worth $15,674,000 after buying an additional 24,000 shares during the period. YHB Investment Advisors Inc. raised its stake in shares of Coca-Cola by 115.2% in the second quarter. YHB Investment Advisors Inc. now owns 60,673 shares of the company’s stock worth $2,750,000 after buying an additional 32,478 shares during the period. Winslow Evans & Crocker Inc. raised its stake in shares of Coca-Cola by 0.7% in the second quarter. Winslow Evans & Crocker Inc. now owns 32,648 shares of the company’s stock worth $1,480,000 after buying an additional 222 shares during the period. Finally, Dynamic Advisors Solutions LLC raised its stake in shares of Coca-Cola by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 50,006 shares of the company’s stock worth $2,267,000 after buying an additional 455 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.22% during midday trading on Friday, hitting $41.67. The stock had a trading volume of 9,893,840 shares. The stock’s 50-day moving average is $42.50 and its 200-day moving average is $44.35. The stock has a market capitalization of $179.85 billion, a PE ratio of 23.98 and a beta of 0.59. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
KO has been the subject of a number of research reports. 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 from $47.00) on shares of Coca-Cola in a research note on Wednesday, June 29th. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Susquehanna restated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average 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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