SlateStone Wealth LLC Acquires 252 Shares of The Coca-Cola Co (NYSE:KO)

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SlateStone Wealth LLC grew its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,422 shares of the company’s stock after acquiring an additional 252 shares during the period. SlateStone Wealth LLC’s holdings in The Coca-Cola were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of KO. Norges Bank bought a new stake in shares of The Coca-Cola during the 4th quarter valued at $1,717,527,000. FMR LLC grew its position in shares of The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares during the period. Geode Capital Management LLC grew its position in shares of The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. Ronna Sue Cohen grew its position in shares of The Coca-Cola by 4,409.4% during the 1st quarter. Ronna Sue Cohen now owns 1,992,242 shares of the company’s stock valued at $1,992,000 after acquiring an additional 1,948,062 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in shares of The Coca-Cola by 5,235.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,696,625 shares of the company’s stock valued at $169,662,000 after acquiring an additional 1,664,823 shares during the period. 66.84% of the stock is owned by hedge funds and other institutional investors.

KO stock traded up $0.30 during mid-day trading on Thursday, hitting $54.40. The company had a trading volume of 2,257,003 shares, compared to its average volume of 14,860,699. The company has a market capitalization of $233.86 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 3.80 and a beta of 0.48. The Coca-Cola Co has a 12-month low of $44.25 and a 12-month high of $54.82. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $52.85 and a 200 day moving average price of $49.25.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is currently 76.92%.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Credit Suisse Group lifted their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. BMO Capital Markets lifted their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. SunTrust Banks lifted their target price on shares of The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $54.10.

In other news, SVP Robert Edward Long sold 30,412 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the sale, the senior vice president now directly owns 57,538 shares in the company, valued at approximately $2,875,173.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total transaction of $747,600.00. Following the sale, the senior vice president now owns 108,457 shares in the company, valued at $5,791,603.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,761 shares of company stock worth $25,417,705. Corporate insiders own 1.33% of the company’s stock.

The Coca-Cola Company 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 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.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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