Beacon Financial Group cut its position in shares of The Coca-Cola Co (NYSE:KO) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,176 shares of the company’s stock after selling 826 shares during the quarter. Beacon Financial Group’s holdings in The Coca-Cola were worth $3,217,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in KO. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola in the first quarter valued at $28,000. Orrstown Financial Services Inc. increased its stake in The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after purchasing an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of The Coca-Cola during the first quarter worth about $35,000. Canton Hathaway LLC increased its position in shares of The Coca-Cola by 83.5% during the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after acquiring an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new stake in shares of The Coca-Cola during the fourth quarter worth about $50,000. Institutional investors own 66.81% of the company’s stock.
A number of research analysts have weighed in on KO shares. UBS Group boosted their target price on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a research note on Wednesday, April 24th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley decreased their target price on shares of Lionsgate from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday. Deutsche Bank reissued a “buy” rating on shares of Continental in a report on Wednesday. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $6.25 price target on shares of Deutsche Bank in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.45.
In related news, VP John Murphy sold 84,400 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the sale, the vice president now directly owns 133,715 shares of the company’s stock, valued at $6,684,412.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Bernhard Goepelt sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total transaction of $636,480.00. Following the completion of the sale, the vice president now directly owns 151,504 shares of the company’s stock, valued at $7,417,635.84. The disclosure for this sale can be found here. Insiders have sold 339,726 shares of company stock worth $16,996,023 in the last quarter. Company insiders own 1.33% of the company’s stock.
Shares of KO opened at $53.07 on Friday. The stock has a fifty day simple moving average of $51.71. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The company has a market capitalization of $229.43 billion, a PE ratio of 25.51, a PEG ratio of 3.66 and a beta of 0.50. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.91.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The Coca-Cola’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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