Feltz Wealth PLAN Inc. acquired a new position in shares of Coca-Cola Co. (NYSE:KO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,117 shares of the company’s stock, valued at approximately $632,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Investment Centers of America Inc. raised its position in Coca-Cola by 25.6% in the first quarter. Investment Centers of America Inc. now owns 130,836 shares of the company’s stock worth $6,070,000 after buying an additional 26,651 shares during the period. Wade G W & Inc. raised its position in Coca-Cola by 6.0% in the first quarter. Wade G W & Inc. now owns 149,193 shares of the company’s stock worth $6,921,000 after buying an additional 8,498 shares during the period. RKL Wealth Management LLC purchased a new position in Coca-Cola during the first quarter worth approximately $779,000. Douglas Lane & Associates LLC purchased a new position in Coca-Cola during the first quarter worth approximately $5,755,000. Finally, Quantitative Systematic Strategies LLC raised its position in Coca-Cola by 53.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,954 shares of the company’s stock worth $789,000 after buying an additional 5,876 shares during the period. Institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.50% during mid-day trading on Tuesday, hitting $41.52. 3,207,867 shares of the stock were exchanged. The stock’s 50 day moving average is $42.73 and its 200 day moving average is $44.44. The firm has a market cap of $179.20 billion, a P/E ratio of 23.89 and a beta of 0.59. 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 results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The company had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Coca-Cola’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts expect that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors 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 presently 80.46%.
A number of equities analysts have recently commented on the stock. Deutsche Bank AG restated 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 note on Sunday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, July 12th. Finally, Vetr raised shares of Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a research note on Monday, June 13th. 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. The company has an average rating of “Hold” and an average 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.
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