Girard Partners LTD. decreased its stake in The Coca-Cola Co (NYSE:KO) by 23.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,023 shares of the company’s stock after selling 5,406 shares during the quarter. Girard Partners LTD.’s holdings in The Coca-Cola were worth $790,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in The Coca-Cola by 1.9% in the first quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after purchasing an additional 4,526,566 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in The Coca-Cola by 1.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 74,749 shares of the company’s stock valued at $3,246,000 after purchasing an additional 1,361 shares during the last quarter. LGT Capital Partners LTD. boosted its holdings in The Coca-Cola by 38.3% in the second quarter. LGT Capital Partners LTD. now owns 452,990 shares of the company’s stock valued at $19,868,000 after purchasing an additional 125,540 shares during the last quarter. Forsta AP Fonden boosted its holdings in The Coca-Cola by 42.5% in the first quarter. Forsta AP Fonden now owns 276,841 shares of the company’s stock valued at $12,023,000 after purchasing an additional 82,500 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in The Coca-Cola by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,293,429 shares of the company’s stock valued at $99,604,000 after purchasing an additional 71,174 shares during the last quarter. 65.40% of the stock is owned by institutional investors.
NYSE:KO opened at $46.22 on Wednesday. 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 52 week low of $41.45 and a 52 week high of $48.62. The company has a market cap of $198.79 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.88 and a beta of 0.79.
The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the business posted $0.59 EPS. The Coca-Cola’s quarterly revenue 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s dividend payout ratio is presently 81.68%.
A number of research analysts recently commented on KO shares. Zacks Investment Research downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $50.00 price target on shares of The Coca-Cola in a report on Thursday, July 26th. Morgan Stanley set a $49.00 price target on The Coca-Cola and gave the company a “neutral” rating in a report on Tuesday. Citigroup reissued a “buy” rating on shares of The Coca-Cola in a report on Thursday, May 17th. Finally, Societe Generale set a $49.00 price target on The Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 13th. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The Coca-Cola has an average rating of “Hold” and an average price target of $50.24.
In other news, VP Kathy N. Waller sold 48,354 shares of the 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 sale, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Murphy sold 56,000 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $46.48, for a total value of $2,602,880.00. Following the sale, the insider now owns 140,869 shares in the company, valued at $6,547,591.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is currently 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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