Timber Hill LLC Invests $652,000 in The Coca-Cola Co (NYSE:KO)

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Timber Hill LLC bought a new position in shares of The Coca-Cola Co (NYSE:KO) during the second quarter, Holdings Channel reports. The fund bought 12,800 shares of the company’s stock, valued at approximately $652,000. The Coca-Cola accounts for 0.5% of Timber Hill LLC’s investment portfolio, making the stock its 8th biggest position.

Several other institutional investors also recently made changes to their positions in KO. Prime Capital Investment Advisors LLC purchased a new position in The Coca-Cola in the first quarter valued at about $28,000. LFA Lugano Financial Advisors SA boosted its stake in shares of The Coca-Cola by 348.8% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in shares of The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of The Coca-Cola during the 1st quarter worth about $35,000. Finally, Canton Hathaway LLC boosted its stake in shares of The Coca-Cola by 83.5% during the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after acquiring an additional 430 shares in the last quarter. 66.69% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on KO. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. BMO Capital Markets boosted their price objective on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, June 4th. Finally, Morgan Stanley reissued a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The Coca-Cola has an average rating of “Hold” and a consensus target price of $53.86.

Shares of KO stock traded up $0.30 during trading hours on Tuesday, hitting $53.50. The company had a trading volume of 821,062 shares, compared to its average volume of 14,153,410. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82. The company has a market cap of $228.43 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The stock’s fifty day moving average is $52.37. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same period in the prior year, the company posted $0.61 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. The Coca-Cola’s dividend payout ratio is currently 76.92%.

In related news, insider Francisco Crespo sold 125,948 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares in the company, valued at approximately $9,331,550. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer K. Mann sold 9,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $51.88, for a total value of $466,920.00. Following the sale, the insider now owns 41,049 shares in the company, valued at $2,129,622.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,855 shares of company stock worth $17,516,258. Corporate insiders own 1.33% of the company’s stock.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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