Independence Trust CO increased its position in shares of Coca-Cola Co. (NYSE:KO) by 7.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 54,268 shares of the company’s stock after buying an additional 3,620 shares during the period. Coca-Cola makes up 3.8% of Independence Trust CO’s investment portfolio, making the stock its 12th largest position. Independence Trust CO’s holdings in Coca-Cola were worth $2,459,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of Coca-Cola by 2.0% in the second quarter. Sigma Planning Corp now owns 69,996 shares of the company’s stock valued at $3,173,000 after buying an additional 1,340 shares during the last quarter. United Bank Inc. boosted its stake in shares of Coca-Cola by 3.7% in the second quarter. United Bank Inc. now owns 37,814 shares of the company’s stock valued at $1,714,000 after buying an additional 1,338 shares during the last quarter. Parkwood LLC boosted its stake in shares of Coca-Cola by 11.4% in the second quarter. Parkwood LLC now owns 108,243 shares of the company’s stock valued at $4,907,000 after buying an additional 11,107 shares during the last quarter. Highstreet Asset Management Inc. boosted its stake in shares of Coca-Cola by 23.8% in the second quarter. Highstreet Asset Management Inc. now owns 65,597 shares of the company’s stock valued at $2,974,000 after buying an additional 12,594 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in shares of Coca-Cola by 7.5% in the second quarter. Oakbrook Investments LLC now owns 345,784 shares of the company’s stock valued at $15,674,000 after buying an additional 24,000 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 up 0.05% on Friday, reaching $41.73. The company’s stock had a trading volume of 8,122,809 shares. The company has a market cap of $180.11 billion, a P/E ratio of 24.01 and a beta of 0.59. The firm’s 50-day moving average price is $42.80 and its 200 day moving average price is $44.48. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Equities analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is 80.46%.
KO has been the topic of several research analyst reports. Vetr upgraded Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a report on Monday, June 13th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Goldman Sachs Group Inc. restated a “neutral” rating and set a $45.00 target price (down previously from $47.00) on shares of Coca-Cola in a report on Wednesday, June 29th. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a report on Friday, July 15th. Finally, Susquehanna reiterated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus 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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