Mycio Wealth Partners LLC trimmed its position in The Coca-Cola Co (NYSE:KO) by 25.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,920 shares of the company’s stock after selling 4,173 shares during the quarter. Mycio Wealth Partners LLC’s holdings in The Coca-Cola were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Norges Bank bought a new position in The Coca-Cola during the 4th quarter worth $1,717,527,000. FMR LLC grew its stake in The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after buying an additional 11,126,961 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 worth $2,200,726,000 after buying an additional 4,528,987 shares during the last quarter. Ronna Sue Cohen grew its stake in 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 worth $1,992,000 after buying an additional 1,948,062 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in 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 worth $169,662,000 after buying an additional 1,664,823 shares during the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.
In other news, insider Jennifer K. Mann sold 9,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the sale, the insider now directly owns 41,049 shares of the company’s stock, valued at $2,129,622.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lisa Chang bought 500 shares of The Coca-Cola stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, with a total value of $26,620.00. Following the completion of the acquisition, the senior vice president now owns 5,448 shares of the company’s stock, valued at $290,051.52. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 488,761 shares of company stock valued at $25,417,705. Insiders own 1.33% of the company’s stock.
A number of research analysts recently commented on KO shares. Deutsche Bank upped their price objective on The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley restated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. UBS Group upped their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, BMO Capital Markets upped their price objective on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.10.
Shares of The Coca-Cola stock traded up $0.16 during trading on Thursday, hitting $54.26. The stock had a trading volume of 159,075 shares, compared to its average volume of 14,860,699. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The firm has a market cap of $233.86 billion, a P/E ratio of 26.13, a PEG ratio of 3.80 and a beta of 0.48. The business has a fifty day moving average of $52.85 and a two-hundred day moving average of $49.25. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The Coca-Cola’s dividend payout ratio (DPR) is 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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