Tompkins Financial Corp trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,391 shares of the company’s stock after selling 376 shares during the quarter. Tompkins Financial Corp’s holdings in Coca-Cola were worth $2,854,000 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. Fairfield Bush & CO. purchased a new position in Coca-Cola during the 1st quarter valued at about $77,000. Merit Financial Group LLC boosted its holdings in Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after acquiring an additional 1,754 shares during the period. NewEdge Advisors LLC boosted its holdings in Coca-Cola by 41.4% during the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after acquiring an additional 43,680 shares during the period. Ergoteles LLC boosted its holdings in Coca-Cola by 385.3% during the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after acquiring an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Coca-Cola by 11.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after acquiring an additional 301,804 shares during the period. 68.96% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on KO shares. Wedbush raised their target price on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. HSBC decreased their price objective on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. StockNews.com initiated coverage on Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada lifted their price objective on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.
Coca-Cola Stock Down 0.3 %
Shares of NYSE KO traded down $0.20 during midday trading on Tuesday, hitting $58.10. 2,560,577 shares of the company’s stock were exchanged, compared to its average volume of 13,099,014. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The company has a market cap of $251.24 billion, a PE ratio of 23.99, a P/E/G ratio of 3.40 and a beta of 0.55. The firm’s fifty day simple moving average is $60.49 and its 200-day simple moving average is $61.25.
Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Research analysts predict that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is 75.72%.
Insiders Place Their Bets
In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total value of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The disclosure for this sale can be found here. Insiders have sold a total of 227,364 shares of company stock valued at $14,122,016 over the last quarter. Company insiders own 1.00% of the company’s stock.
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
- Five stocks we like better than Coca-Cola
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- 2 Beauty Stocks Beaten By the Ugly Stick But Ready to Rally
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- Got Nuclear? Three Stocks To Play Energy’s Next Frontier
- Business Services Stocks Investing
- The Top 4 Utilities for Value, Yield, and Upside Potential
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.