CENTRAL TRUST Co decreased its position in shares of Coca-Cola Co. (NYSE:KO) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,400 shares of the company’s stock after selling 1,765 shares during the period. Coca-Cola accounts for approximately 0.8% of CENTRAL TRUST Co’s investment portfolio, making the stock its 28th largest position. CENTRAL TRUST Co’s holdings in Coca-Cola were worth $10,308,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Country Trust Bank raised its stake 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. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 in the last quarter. Tradewinds Capital Management LLC raised its stake 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 in the last quarter. Taylor Wealth Management Partners raised its stake 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 in the last quarter. Finally, Smith Affiliated Capital Corp. raised its stake 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 in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.22% during midday trading on Friday, reaching $41.67. 9,893,840 shares of the company traded hands. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13. The firm has a market capitalization of $179.85 billion, a PE ratio of 23.98 and a beta of 0.59. The stock has a 50 day moving average price of $42.50 and a 200 day moving average price of $44.35.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The business had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.36%. Coca-Cola’s dividend payout ratio is presently 80.46%.
A number of analysts have weighed in on the stock. Credit Suisse Group AG began coverage on shares of Coca-Cola in a research note on Thursday, September 15th. They set a “neutral” rating and a $44.00 price objective for the company. Vetr downgraded 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 report on Thursday, September 15th. Stifel Nicolaus downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating and dropped their price target for the company from $50.00 to $45.00 in a 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 report on Monday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average 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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