Shinko Asset Management Co. Ltd. cut its stake in Coca-Cola Co. (NYSE:KO) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,525 shares of the company’s stock after selling 284 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in Coca-Cola were worth $477,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp increased its position in shares of Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock worth $95,160,000 after buying an additional 345,810 shares during the last quarter. Credit Agricole S A increased its position in shares of Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the last quarter. Finally, Avalon Advisors LLC increased its position in shares of Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock worth $30,707,000 after buying an additional 62,060 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.
Coca-Cola Co. (NYSE:KO) traded down 0.05% during midday trading on Thursday, reaching $41.76. 17,655,643 shares of the company traded hands. The firm has a 50-day moving average of $42.61 and a 200-day moving average of $44.40. The stock has a market capitalization of $180.24 billion, a P/E ratio of 24.03 and a beta of 0.59. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business earned $11.50 billion during 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 company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. On average, analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
A number of research analysts have issued reports on the stock. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a research report on Sunday, July 17th. RBC Capital Markets set a $49.00 target price on shares of Coca-Cola and gave the company a “buy” rating in a report on Thursday. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, July 12th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Finally, Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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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