Athena Capital Advisors LLC decreased its stake in Coca-Cola Co. (NYSE:KO) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 4,824 shares of the company’s stock after selling 400 shares during the period. Athena Capital Advisors LLC’s holdings in Coca-Cola were worth $219,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Country Trust Bank raised 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 during the period. Smith Affiliated Capital Corp. raised 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 during the period. Barnett & Company Inc. acquired a new position in shares of Coca-Cola during the first quarter valued at approximately $149,000. Arcadia Investment Management Corp MI raised its position 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 acquired a new position 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.
Coca-Cola Co. (NYSE:KO) traded down 0.22% on Friday, hitting $41.67. The company’s stock had a trading volume of 9,893,840 shares. The company has a 50 day moving average price of $42.50 and a 200-day moving average price of $44.35. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13. The company has a market capitalization of $179.85 billion, a P/E ratio of 23.98 and a beta of 0.59.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
Several brokerages have recently commented on KO. Credit Suisse Group AG began coverage on Coca-Cola in a research note on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price target on the stock. Vetr downgraded Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price objective on the stock. in a report on Thursday, September 15th. Stifel Nicolaus downgraded Coca-Cola from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $45.00 in a report on Thursday, September 29th. Societe Generale set a $44.00 price objective on Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, Jefferies Group reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target 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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