Barnett & Company Inc. lowered its position in shares of Coca-Cola Co. (NYSE:KO) by 30.9% during the second quarter, Holdings Channel reports. The firm owned 2,221 shares of the company’s stock after selling 995 shares during the period. Barnett & Company Inc.’s holdings in Coca-Cola were worth $101,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp increased its stake in Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock worth $95,160,000 after buying an additional 345,810 shares during the last quarter. Credit Agricole S A increased its stake in Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares during the last quarter. Capstone Asset Management Co. increased its stake in Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the last quarter. Finally, Avalon Advisors LLC increased its stake in Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock worth $30,707,000 after buying an additional 62,060 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.19% on Thursday, hitting $41.89. The stock had a trading volume of 4,216,428 shares. The company has a market cap of $180.80 billion, a P/E ratio of 24.10 and a beta of 0.59. The company’s 50 day moving average price is $42.93 and its 200-day moving average price is $44.53. Coca-Cola Co. has a 12 month low of $40.75 and a 12 month high of $47.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $11.50 billion for 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%. Coca-Cola’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.35%. Coca-Cola’s payout ratio is currently 80.46%.
A number of equities analysts have commented on the company. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Goldman Sachs Group Inc. set a $46.00 price target on Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, July 12th. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Finally, Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 price target on the stock in a research note on Tuesday, August 2nd. 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 company. The stock has a consensus rating of “Hold” and an average 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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