Highstreet Asset Management Inc. boosted its stake in Coca-Cola Co. (NYSE:KO) by 23.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,597 shares of the company’s stock after buying an additional 12,594 shares during the period. Coca-Cola accounts for about 1.0% of Highstreet Asset Management Inc.’s investment portfolio, making the stock its 29th largest position. Highstreet Asset Management Inc.’s holdings in Coca-Cola were worth $2,974,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Country Trust Bank increased its stake in shares of Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the period. Smith Affiliated Capital Corp. increased its stake in shares of 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. bought a new stake in shares of Coca-Cola during the first quarter valued at approximately $149,000. Arcadia Investment Management Corp MI increased its stake in shares of 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 bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $161,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.05% during midday trading on Thursday, hitting $41.76. The stock had a trading volume of 17,654,643 shares. The firm has a market cap of $180.24 billion, a price-to-earnings ratio of 24.03 and a beta of 0.59. The stock’s 50 day moving average price is $42.61 and its 200 day moving average price is $44.40. 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 earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast 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. Investors of record on Thursday, September 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.35%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
Several brokerages have recently commented on KO. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Sunday, July 17th. Vetr reaffirmed a “buy” rating on shares of Coca-Cola in a research report on Thursday, July 28th. Sanford C. Bernstein set a $49.00 price target on shares of Coca-Cola and gave the company a “buy” rating in a research report on Thursday, July 28th. Goldman Sachs Group Inc. set a $45.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Coca-Cola presently has a consensus rating of “Hold” and a consensus price target of $46.60.
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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