Janney Capital Management LLC raised its position in Coca-Cola Co. (NYSE:KO) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 35,949 shares of the company’s stock after buying an additional 160 shares during the period. Janney Capital Management LLC’s holdings in Coca-Cola were worth $1,629,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. HHG & Company LLC raised its position in shares of Coca-Cola by 0.6% in the first quarter. HHG & Company LLC now owns 39,723 shares of the company’s stock worth $1,843,000 after buying an additional 223 shares in the last quarter. Kelman Lazarov Inc. acquired a new position in shares of Coca-Cola during the first quarter worth $350,000. Dividend Asset Capital LLC raised its position in shares of Coca-Cola by 5.4% in the first quarter. Dividend Asset Capital LLC now owns 19,242 shares of the company’s stock worth $893,000 after buying an additional 989 shares in the last quarter. V Wealth Management LLC acquired a new position in shares of Coca-Cola during the first quarter worth $386,000. Finally, Gillespie Robinson & Grimm Inc. raised its position in shares of Coca-Cola by 3.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 6,920 shares of the company’s stock worth $319,000 after buying an additional 220 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.07% during midday trading on Tuesday, reaching $42.00. The company had a trading volume of 6,861,410 shares. The firm’s 50 day moving average price is $43.06 and its 200-day moving average price is $44.58. Coca-Cola Co. has a 12 month low of $40.75 and a 12 month high of $47.13. The company has a market capitalization of $181.27 billion, a P/E ratio of 24.17 and a beta of 0.59.
Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a $0.35 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.33%. Coca-Cola’s payout ratio is currently 80.46%.
KO has been the topic of a number of recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Sunday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Coca-Cola in a research report on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 target price on Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Finally, Vetr lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Monday, June 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Coca-Cola currently has an average rating of “Hold” and a consensus target price 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.
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