Willingdon Wealth Management purchased a new position in Coca-Cola Co. (NYSE:KO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,333 shares of the company’s stock, valued at approximately $2,327,000. Coca-Cola makes up approximately 1.2% of Willingdon Wealth Management’s portfolio, making the stock its 26th largest position.
Other hedge funds also recently added to or reduced their stakes in 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 worth $113,000 after buying an additional 500 shares in the last quarter. Smith Affiliated Capital Corp. increased its position 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. Barnett & Company Inc. acquired a new position in Coca-Cola during the first quarter worth approximately $149,000. Arcadia Investment Management Corp MI increased its position in Coca-Cola by 1.5% in the second quarter. Arcadia Investment Management Corp MI now owns 3,469 shares of the company’s stock worth $157,000 after buying an additional 52 shares in the last quarter. Finally, Cribstone Capital Management LLC acquired a new position in Coca-Cola during the second quarter worth approximately $161,000. 64.33% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Co. (NYSE:KO) traded up 0.69% during trading on Friday, reaching $42.32. The company’s stock had a trading volume of 14,375,702 shares. The stock’s 50 day moving average is $43.12 and its 200-day moving average is $44.61. The firm has a market cap of $182.65 billion, a P/E ratio of 24.35 and a beta of 0.57. Coca-Cola Co. has a 52 week low of $40.43 and a 52 week high of $47.13.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.50 billion for 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 was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities research analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
A number of equities analysts have commented on KO shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Coca-Cola in a report on Wednesday, August 10th. Vetr upgraded Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 target price on the stock in a research note on Tuesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Finally, SunTrust Banks Inc. reiterated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.50.
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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