Staley Capital Advisers Inc. cut its position in shares of Coca-Cola Co. (NYSE:KO) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 306,723 shares of the company’s stock after selling 10,400 shares during the period. Staley Capital Advisers Inc.’s holdings in Coca-Cola were worth $13,904,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of KO. Country Trust Bank boosted its stake in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 shares in the last quarter. Taylor Wealth Management Partners boosted its stake in Coca-Cola by 128.5% in the second quarter. Taylor Wealth Management Partners now owns 2,970 shares of the company’s stock worth $135,000 after buying an additional 1,670 shares in the last quarter. Finally, Smith Affiliated Capital Corp. boosted its stake in Coca-Cola by 147.2% in the second quarter. Smith Affiliated Capital Corp. now owns 3,023 shares of the company’s stock worth $137,000 after buying an additional 1,800 shares in the last quarter. 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. 8,852,719 shares of the stock were exchanged. The stock has a market cap of $184.47 billion, a price-to-earnings ratio of 24.59 and a beta of 0.57. The firm’s 50-day moving average is $43.30 and its 200 day moving average is $44.71. Coca-Cola Co. has a 52 week low of $39.33 and a 52 week high of $47.13.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts expect that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.28%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
KO has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on Coca-Cola from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Sanford C. Bernstein set a $49.00 price target on Coca-Cola and gave the company a “buy” rating in a research note on Thursday, July 28th. Vetr restated a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Coca-Cola presently has a consensus rating of “Hold” and an average 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.
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