Quadrant Private Wealth Management LLC lowered its holdings in The Coca-Cola Co (NYSE:KO) by 31.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,971 shares of the company’s stock after selling 2,265 shares during the period. Quadrant Private Wealth Management LLC’s holdings in The Coca-Cola were worth $218,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in KO. AXA increased its stake in The Coca-Cola by 2.8% in the 4th quarter. AXA now owns 2,076,975 shares of the company’s stock worth $95,292,000 after acquiring an additional 55,890 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in The Coca-Cola by 1,766.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,105,608 shares of the company’s stock worth $326,006,000 after acquiring an additional 6,724,982 shares during the last quarter. Connors Investor Services Inc. increased its stake in The Coca-Cola by 413.2% in the 4th quarter. Connors Investor Services Inc. now owns 59,700 shares of the company’s stock worth $2,739,000 after acquiring an additional 48,068 shares during the last quarter. Annex Advisory Services LLC bought a new position in The Coca-Cola in the 4th quarter worth about $214,000. Finally, ETRADE Capital Management LLC increased its stake in The Coca-Cola by 5.3% in the 4th quarter. ETRADE Capital Management LLC now owns 107,290 shares of the company’s stock worth $4,923,000 after acquiring an additional 5,365 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.
KO opened at $46.73 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.15. The Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $48.62. The company has a market cap of $198.79 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.88 and a beta of 0.79.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the company earned $0.59 EPS. The Coca-Cola’s revenue for the quarter was down 8.3% compared to the same quarter last year. research analysts forecast that The Coca-Cola Co will post 2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors 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 annualized dividend and a yield of 3.34%. The Coca-Cola’s payout ratio is 81.68%.
In related news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Murphy sold 111,468 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 90 days, insiders have sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on the company. Macquarie restated a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a research note on Wednesday, June 13th. Barclays upgraded The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a research note on Thursday, May 17th. Gabelli reiterated a “hold” rating on shares of The Coca-Cola in a research report on Thursday, July 26th. Zacks Investment Research upgraded The Coca-Cola from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Societe Generale set a $49.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Monday, August 13th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $50.24.
About The Coca-Cola
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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