Tufton Capital Management decreased its position in shares of The Coca-Cola Co (NYSE:KO) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,455 shares of the company’s stock after selling 1,159 shares during the period. Tufton Capital Management’s holdings in The Coca-Cola were worth $3,484,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Princeton Capital Management LLC acquired a new position in shares of The Coca-Cola in the first quarter valued at approximately $100,000. Clarus Wealth Advisors acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $101,000. WP Advisors LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $107,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $116,000. Finally, Avestar Capital LLC acquired a new position in shares of The Coca-Cola in the fourth quarter valued at approximately $160,000. 65.64% of the stock is currently owned by institutional investors.
Shares of KO stock opened at $46.60 on Friday. The Coca-Cola Co has a 1-year low of $41.45 and a 1-year high of $48.62. The firm has a market cap of $196.57 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.79. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.54 billion. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The Coca-Cola’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. equities analysts predict that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.35%. The Coca-Cola’s payout ratio is 81.68%.
A number of research firms have recently issued reports on KO. Macquarie reissued a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a report on Wednesday, June 13th. Barclays raised The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Thursday, May 17th. Gabelli reissued a “hold” rating on shares of The Coca-Cola in a report on Thursday, July 26th. Zacks Investment Research raised The Coca-Cola from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Societe Generale set a $49.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Monday, August 13th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and a consensus price target of $49.75.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the sale, the vice president now directly owns 200,725 shares in the company, valued at $9,323,676.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Murphy sold 111,468 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total value of $5,178,803.28. Following the sale, the insider now owns 196,337 shares in the company, valued at $9,121,817.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is owned by company insiders.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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