Gamco Investors INC. ET AL trimmed its position in The Coca-Cola Co (NYSE:KO) by 6.8% in the second quarter, HoldingsChannel.com reports. The firm owned 807,753 shares of the company’s stock after selling 58,667 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The Coca-Cola were worth $35,428,000 at the end of the most recent reporting period.
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 stake in The Coca-Cola in the first quarter worth approximately $100,000. Clarus Wealth Advisors acquired a new stake in The Coca-Cola in the second quarter worth approximately $101,000. WP Advisors LLC acquired a new stake in The Coca-Cola in the second quarter worth approximately $107,000. Signature Estate & Investment Advisors LLC acquired a new stake in The Coca-Cola in the second quarter worth approximately $116,000. Finally, Lee Financial Co lifted its position in The Coca-Cola by 385.0% in the first quarter. Lee Financial Co now owns 3,759 shares of the company’s stock worth $163,000 after purchasing an additional 2,984 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.
KO opened at $45.77 on Friday. The firm has a market capitalization of $193.59 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $48.62. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39.
The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $8.90 billion during 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 company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. sell-side analysts anticipate that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
KO has been the subject of a number of research analyst reports. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, July 25th. SunTrust Banks increased their price objective on The Coca-Cola to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Argus upgraded The Coca-Cola to a “hold” rating in a research report on Friday, August 24th. Goldman Sachs Group set a $45.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.28.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Murphy sold 111,468 shares of the stock in a transaction on Thursday, August 2nd. The stock was 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 sold 215,822 shares of company stock worth $10,027,727 over the last ninety days. 1.48% of the stock is currently owned by company insiders.
The Coca-Cola Company 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.
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.