Waldron Private Wealth LLC reduced its stake in The Coca-Cola Co (NYSE:KO) by 13.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,203 shares of the company’s stock after selling 2,876 shares during the period. Waldron Private Wealth LLC’s holdings in The Coca-Cola were worth $986,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in KO. Prime Capital Investment Advisors LLC purchased a new stake in The Coca-Cola in the first quarter worth about $28,000. Orrstown Financial Services Inc. grew its holdings in The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in The Coca-Cola in the first quarter worth about $35,000. Canton Hathaway LLC grew its holdings in The Coca-Cola by 83.5% in the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after purchasing an additional 430 shares during the period. Finally, PRW Wealth Management LLC purchased a new stake in The Coca-Cola in the fourth quarter worth about $50,000. 66.69% of the stock is owned by institutional investors.
KO has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Thursday, May 16th. SunTrust Banks upped their price objective on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Atlantic Securities initiated coverage on shares of The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.86.
Shares of NYSE:KO traded up $0.28 during trading on Tuesday, reaching $53.48. 5,885,581 shares of the stock traded hands, compared to its average volume of 14,153,410. The firm’s 50-day moving average price is $52.37. The Coca-Cola Co has a 52-week low of $44.25 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The company has a market capitalization of $228.43 billion, a PE ratio of 25.71, a P/E/G ratio of 3.71 and a beta of 0.48.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.
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 plantbased 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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