Cowen Prime Services LLC held its stake in Coca-Cola Co. (NYSE:KO) during the second quarter, Holdings Channel reports. The firm owned 7,522 shares of the company’s stock at the end of the second quarter. Cowen Prime Services LLC’s holdings in Coca-Cola were worth $341,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. Country Trust Bank boosted 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 shares during the last quarter. Taylor Wealth Management Partners boosted its position in Coca-Cola by 128.5% in the second quarter. Taylor Wealth Management Partners now owns 2,970 shares of the company’s stock worth $135,000 after buying an additional 1,670 shares during the last quarter. Finally, Smith Affiliated Capital Corp. boosted 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 worth $137,000 after buying an additional 1,800 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Co. (NYSE:KO) traded up 0.26% during trading on Wednesday, reaching $41.65. 2,142,274 shares of the company traded hands. The company has a market capitalization of $179.76 billion, a P/E ratio of 23.96 and a beta of 0.59. The firm has a 50-day moving average price of $42.67 and a 200-day moving average price of $44.42. Coca-Cola Co. has a 52 week low of $40.75 and a 52 week high of $47.13.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Thursday, September 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s payout ratio is 80.46%.
A number of equities analysts have issued reports on the stock. Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a research report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. Vetr cut shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target on the stock. in a research report on Thursday, September 15th. Stifel Nicolaus cut shares of Coca-Cola from a “buy” rating to a “hold” rating and reduced their price target for the company from $50.00 to $45.00 in a research report on Thursday, September 29th. Societe Generale set a $44.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a research report on Monday, August 8th. Finally, Jefferies Group reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $46.48.
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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