Goelzer Investment Management Inc. lowered its position in shares of Coca-Cola Co. (NYSE:KO) by 9.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 12,917 shares of the company’s stock after selling 1,299 shares during the period. Goelzer Investment Management Inc.’s holdings in Coca-Cola were worth $586,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Country Trust Bank raised its position in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares in the last quarter. Smith Affiliated Capital Corp. raised its position in Coca-Cola by 147.2% in the second quarter. Smith Affiliated Capital Corp. now owns 3,023 shares of the company’s stock valued at $137,000 after buying an additional 1,800 shares during the period. Barnett & Company Inc. acquired a new position in Coca-Cola during the first quarter valued at about $149,000. Arcadia Investment Management Corp MI raised its position in Coca-Cola by 1.5% in the second quarter. Arcadia Investment Management Corp MI now owns 3,469 shares of the company’s stock valued at $157,000 after buying an additional 52 shares during the period. Finally, Cribstone Capital Management LLC acquired a new position in Coca-Cola during the second quarter valued at about $161,000. 64.33% of the stock is currently owned by institutional investors.
Coca-Cola Co. (NYSE:KO) traded down 0.46% on Tuesday, hitting $41.54. 12,249,060 shares of the stock traded hands. The firm’s 50 day moving average is $42.73 and its 200 day moving average is $44.44. Coca-Cola Co. has a 52 week low of $40.75 and a 52 week high of $47.13. The stock has a market cap of $179.29 billion, a price-to-earnings ratio of 23.90 and a beta of 0.59.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.46%.
Several research analysts have issued reports on KO shares. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Sanford C. Bernstein restated an “outperform” rating and issued a $49.00 price target on shares of Coca-Cola in a research report on Wednesday, August 10th. Vetr upgraded shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 price target on the stock in a research report on Tuesday, August 2nd. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a research report on Friday, July 15th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus 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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