Aviva PLC raised its stake in shares of Coca-Cola Co. (NYSE:KO) by 12.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,826,339 shares of the company’s stock after buying an additional 307,588 shares during the period. Coca-Cola comprises 0.9% of Aviva PLC’s investment portfolio, making the stock its 20th largest position. Aviva PLC owned 0.07% of Coca-Cola worth $128,118,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in KO. Chartwell Investment Partners LLC boosted its stake in Coca-Cola by 16.6% in the second quarter. Chartwell Investment Partners LLC now owns 93,559 shares of the company’s stock valued at $4,241,000 after buying an additional 13,330 shares during the last quarter. Mayo Investment Advisers LLC boosted its stake in Coca-Cola by 23.6% in the second quarter. Mayo Investment Advisers LLC now owns 122,686 shares of the company’s stock valued at $5,561,000 after buying an additional 23,386 shares during the last quarter. Princeton Alpha Management LP purchased a new stake in Coca-Cola during the second quarter valued at approximately $2,137,000. Bangor Savings Bank boosted its stake in Coca-Cola by 2.0% in the second quarter. Bangor Savings Bank now owns 14,539 shares of the company’s stock valued at $659,000 after buying an additional 280 shares during the last quarter. Finally, FCA Corp TX boosted its stake in Coca-Cola by 8.9% in the second quarter. FCA Corp TX now owns 8,266 shares of the company’s stock valued at $375,000 after buying an additional 678 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 1.177% during mid-day trading on Tuesday, hitting $42.545. The company had a trading volume of 7,116,882 shares. Coca-Cola Co. has a one year low of $39.33 and a one year high of $47.13. The company’s 50-day moving average is $43.26 and its 200 day moving average is $44.69. The company has a market capitalization of $183.63 billion, a PE ratio of 24.479 and a beta of 0.57.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts forecast that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.33%. Coca-Cola’s payout ratio is presently 80.46%.
Several equities research analysts have commented on the company. Susquehanna restated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday. Vetr reiterated a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Goldman Sachs Group Inc. set a $45.00 price objective on Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Finally, Sanford C. Bernstein set a $49.00 price objective on Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $46.75.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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