Psagot Investment House Ltd. lowered its position in Coca-Cola Co. (NYSE:KO) by 58.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,053 shares of the company’s stock after selling 18,502 shares during the period. Psagot Investment House Ltd.’s holdings in Coca-Cola were worth $592,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of KO. CHURCHILL MANAGEMENT Corp raised its position in shares of Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock worth $95,160,000 after buying an additional 345,810 shares in the last quarter. Credit Agricole S A raised its position in shares of Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Coca-Cola by 0.9% in the second quarter. CIBC World Markets Inc. now owns 256,382 shares of the company’s stock worth $11,622,000 after buying an additional 2,346 shares in the last quarter. 64.30% of the stock is currently owned by institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.17% during mid-day trading on Monday, reaching $41.74. The company’s stock had a trading volume of 1,470,832 shares. Coca-Cola Co. has a one year low of $40.75 and a one year high of $47.13. The firm’s 50 day moving average is $42.50 and its 200 day moving average is $44.35. The firm has a market cap of $180.15 billion, a PE ratio of 24.02 and a beta of 0.59.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
A number of equities analysts recently issued reports on KO shares. Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Independent Research GmbH set a $38.00 price objective on shares of Coca-Cola and gave the company a “sell” rating in a research report on Monday, August 1st. Vetr lowered shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price objective for the company. in a research report on Thursday, September 15th. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Finally, RBC Capital Markets set a $49.00 price objective on shares of Coca-Cola and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.60.
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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