State of Alaska Department of Revenue boosted its stake in Coca-Cola Co. (NYSE:KO) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 285,610 shares of the company’s stock after buying an additional 13,610 shares during the period. Coca-Cola comprises approximately 1.3% of State of Alaska Department of Revenue’s holdings, making the stock its 13th largest position. State of Alaska Department of Revenue’s holdings in Coca-Cola were worth $12,946,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Coca-Cola by 8.4% in the second quarter. Nordea Investment Management AB now owns 564,758 shares of the company’s stock worth $25,600,000 after buying an additional 43,524 shares during the period. Capital One National Association raised its stake in Coca-Cola by 0.9% in the second quarter. Capital One National Association now owns 105,040 shares of the company’s stock worth $4,761,000 after buying an additional 899 shares during the period. Telemus Capital LLC raised its stake in Coca-Cola by 90.7% in the second quarter. Telemus Capital LLC now owns 48,620 shares of the company’s stock worth $2,204,000 after buying an additional 23,124 shares during the period. BLB&B Advisors LLC raised its stake in Coca-Cola by 2.1% in the second quarter. BLB&B Advisors LLC now owns 59,268 shares of the company’s stock worth $2,687,000 after buying an additional 1,237 shares during the period. Finally, Pennsylvania Trust Co raised its stake in Coca-Cola by 0.9% in the second quarter. Pennsylvania Trust Co now owns 134,165 shares of the company’s stock worth $6,082,000 after buying an additional 1,207 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.51% on Friday, reaching $42.74. The company’s stock had a trading volume of 8,852,719 shares. Coca-Cola Co. has a 12-month low of $39.33 and a 12-month high of $47.13. The stock has a market cap of $184.47 billion, a PE ratio of 24.59 and a beta of 0.57. The firm has a 50 day moving average price of $43.30 and a 200-day moving average price of $44.71.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Equities research analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s payout ratio is 80.46%.
A number of brokerages recently commented on KO. Citigroup Inc. restated a “buy” rating and set a $50.00 target price on shares of Coca-Cola in a report on Monday, September 19th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Susquehanna restated a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Jefferies Group restated a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Finally, Vetr upgraded Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $47.52 target price for the company in a report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price 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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