ARGA Investment Management LP purchased a new stake in shares of Coca-Cola Co. (NYSE:KO) during the second quarter, Holdings Channel reports. The fund purchased 4,500 shares of the company’s stock, valued at approximately $204,000.
Other large investors have also recently made changes to their positions in the company. Country Trust Bank boosted its stake in shares of Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 shares during the last quarter. Taylor Wealth Management Partners boosted its stake in shares of Coca-Cola by 128.5% in the second quarter. Taylor Wealth Management Partners now owns 2,970 shares of the company’s stock worth $135,000 after buying an additional 1,670 shares during the last quarter. Finally, Smith Affiliated Capital Corp. boosted its stake in shares of Coca-Cola by 147.2% in the second quarter. Smith Affiliated Capital Corp. now owns 3,023 shares of the company’s stock worth $137,000 after buying an additional 1,800 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Co. (NYSE:KO) traded up 0.69% during trading on Friday, reaching $42.32. The company had a trading volume of 14,375,702 shares. The firm’s 50 day moving average price is $43.12 and its 200 day moving average price is $44.61. The firm has a market capitalization of $182.65 billion, a PE ratio of 24.35 and a beta of 0.57. Coca-Cola Co. has a 12-month low of $40.43 and a 12-month high of $47.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. Analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.31%. Coca-Cola’s dividend payout ratio is presently 80.46%.
A number of equities research analysts have issued reports on the company. Credit Suisse Group AG assumed coverage on Coca-Cola in a research report on Thursday, September 15th. They set a “neutral” rating and a $44.00 target price for the company. Vetr lowered Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target for the company. in a report on Thursday, September 15th. Stifel Nicolaus lowered Coca-Cola from a “buy” rating to a “hold” rating and cut their price target for the stock from $50.00 to $45.00 in a report on Thursday. Societe Generale set a $44.00 price target on Coca-Cola and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, Susquehanna reiterated a “hold” rating and set a $39.00 price target on shares of Coca-Cola in a report on Sunday, June 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.50.
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.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co. (NYSE:KO).
Receive News & Ratings for Coca-Cola Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Co. and related companies with MarketBeat.com's FREE daily email newsletter.