InterOcean Capital LLC increased its position in Coca-Cola Co. (NYSE:KO) by 6.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 212,113 shares of the company’s stock after buying an additional 12,280 shares during the period. Coca-Cola makes up about 2.3% of InterOcean Capital LLC’s investment portfolio, making the stock its 13th largest position. InterOcean Capital LLC’s holdings in Coca-Cola were worth $9,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock valued at $7,768,816,000 after buying an additional 1,511,559 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Coca-Cola by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 102,413,710 shares of the company’s stock valued at $4,750,972,000 after buying an additional 843,493 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Coca-Cola by 1.1% in the first quarter. BlackRock Fund Advisors now owns 56,120,005 shares of the company’s stock valued at $2,603,407,000 after buying an additional 623,080 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Coca-Cola by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 47,084,172 shares of the company’s stock valued at $2,134,326,000 after buying an additional 1,077,013 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in shares of Coca-Cola by 0.8% in the second quarter. Suntrust Banks Inc. now owns 41,237,033 shares of the company’s stock valued at $1,869,273,000 after buying an additional 330,121 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.1663% during midday trading on Tuesday, reaching $41.9601. 6,365,572 shares of the company were exchanged. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13. The company has a market capitalization of $181.10 billion, a price-to-earnings ratio of 24.1427 and a beta of 0.59. The company has a 50 day moving average of $43.06 and a 200-day moving average of $44.58.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities research analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
Several brokerages have issued reports on KO. Deutsche Bank AG reiterated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Susquehanna restated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a report on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, July 12th. Finally, Vetr cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a report on Monday, June 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $46.50.
Coca-Cola Company Profile
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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