Mercer Capital Advisers Inc. reduced its stake in Coca-Cola Co. (NYSE:KO) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,086 shares of the company’s stock after selling 1,470 shares during the period. Coca-Cola accounts for about 3.0% of Mercer Capital Advisers Inc.’s holdings, making the stock its 10th largest position. Mercer Capital Advisers Inc.’s holdings in Coca-Cola were worth $3,630,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Country Trust Bank increased its position in 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 during 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. purchased a new position in shares of Coca-Cola during the first quarter valued at approximately $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 purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $161,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.22% during mid-day trading on Friday, hitting $41.67. 9,893,840 shares of the stock were exchanged. The stock has a market cap of $179.85 billion, a price-to-earnings ratio of 23.98 and a beta of 0.59. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13. The stock has a 50 day moving average of $42.50 and a 200-day moving average of $44.35.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the 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 business 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 business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts predict that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The firm also recently announced 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 annualized dividend and a dividend yield of 3.36%. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
Several brokerages recently commented on KO. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 price objective on shares of Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, July 12th. Finally, Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently 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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