MUFG Americas Holdings Corp cut its position in shares of The Coca-Cola Co (NYSE:KO) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,201,642 shares of the company’s stock after selling 13,571 shares during the quarter. The Coca-Cola makes up about 3.0% of MUFG Americas Holdings Corp’s portfolio, making the stock its largest holding. MUFG Americas Holdings Corp’s holdings in The Coca-Cola were worth $96,564,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of KO. Princeton Capital Management LLC bought a new position in The Coca-Cola during the first quarter worth $100,000. Clarus Wealth Advisors bought a new position in The Coca-Cola during the second quarter worth $101,000. WP Advisors LLC bought a new position in The Coca-Cola during the second quarter worth $107,000. Signature Estate & Investment Advisors LLC bought a new position in The Coca-Cola during the second quarter worth $116,000. Finally, Lee Financial Co boosted its stake in The Coca-Cola by 385.0% during the first quarter. Lee Financial Co now owns 3,759 shares of the company’s stock worth $163,000 after acquiring an additional 2,984 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.
KO opened at $45.38 on Thursday. 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 fifty-two week low of $41.45 and a fifty-two week high of $48.62. The stock has a market cap of $190.13 billion, a P/E ratio of 22.62, a PEG ratio of 2.75 and a beta of 0.74.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the firm earned $0.59 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. equities research analysts predict that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The company 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is currently 81.68%.
In related news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were 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 of the company’s stock, valued at $9,323,676.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Murphy sold 111,468 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the transaction, the insider now directly owns 196,337 shares in the company, valued at $9,121,817.02. The disclosure for this sale can be found here. Insiders have sold 215,822 shares of company stock worth $10,027,727 over the last three months. 1.48% of the stock is owned by insiders.
Several research analysts recently issued reports on KO shares. Barclays raised shares of 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. Citigroup reissued a “buy” rating on shares of The Coca-Cola in a research note on Thursday, May 17th. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday, May 18th. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $44.00 price objective on shares of The Coca-Cola in a research note on Friday, May 25th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of The Coca-Cola in a research note on Wednesday, June 13th. Fourteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.28.
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.
Featured Story: Understanding Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.