Columbia Asset Management cut its position in Coca-Cola Co. (NYSE:KO) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,770 shares of the company’s stock after selling 64 shares during the period. Coca-Cola comprises approximately 1.3% of Columbia Asset Management’s investment portfolio, making the stock its 21st largest position. Columbia Asset Management’s holdings in Coca-Cola were worth $3,752,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of 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 valued at $113,000 after buying an additional 2,108 shares during the period. Country Trust Bank increased its position 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 in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock valued at $124,000 after buying an additional 174 shares in the last quarter. Taylor Wealth Management Partners increased its position in shares of Coca-Cola by 128.5% in the second quarter. Taylor Wealth Management Partners now owns 2,970 shares of the company’s stock valued at $135,000 after buying an additional 1,670 shares in the last quarter. Finally, Smith Affiliated Capital Corp. increased its position 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 in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded up 0.3108% during mid-day trading on Friday, reaching $41.8898. 1,940,110 shares of the company were exchanged. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13. The stock’s 50-day moving average price is $42.55 and its 200-day moving average price is $44.38. The stock has a market capitalization of $180.80 billion, a price-to-earnings ratio of 24.1023 and a beta of 0.59.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. On average, equities research analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a $0.35 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.35%. Coca-Cola’s payout ratio is currently 80.46%.
Several brokerages have weighed in on KO. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Coca-Cola in a report on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, July 12th. Finally, Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $46.60.
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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