L & S Advisors Inc Raises Stock Holdings in The Coca-Cola Co (NYSE:KO)

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L & S Advisors Inc increased its position in The Coca-Cola Co (NYSE:KO) by 283.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,072 shares of the company’s stock after purchasing an additional 46,632 shares during the period. L & S Advisors Inc’s holdings in The Coca-Cola were worth $3,212,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Northern Trust Corp grew its stake in shares of The Coca-Cola by 1.1% in the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after acquiring an additional 589,927 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after purchasing an additional 4,528,987 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of The Coca-Cola by 4.2% during the first quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock valued at $776,113,000 after purchasing an additional 660,240 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of The Coca-Cola by 3.2% during the second quarter. Parametric Portfolio Associates LLC now owns 11,880,531 shares of the company’s stock valued at $604,957,000 after purchasing an additional 368,714 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of The Coca-Cola by 3.3% during the second quarter. APG Asset Management N.V. now owns 7,564,370 shares of the company’s stock valued at $338,231,000 after purchasing an additional 244,071 shares in the last quarter. 67.59% of the stock is currently owned by institutional investors.

KO stock traded down $0.34 during trading on Friday, reaching $54.77. The stock had a trading volume of 971,232 shares, compared to its average volume of 10,778,863. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $55.92. The stock’s 50 day moving average is $54.00 and its two-hundred day moving average is $50.00. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The firm has a market cap of $232.62 billion, a PE ratio of 26.33, a PEG ratio of 3.78 and a beta of 0.44.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The Coca-Cola’s revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio is 76.92%.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. SunTrust Banks upped their price target on The Coca-Cola to $60.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, June 4th. HSBC reaffirmed a “neutral” rating and set a $52.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, Morgan Stanley set a $60.00 price target on The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $54.10.

In other The Coca-Cola news, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $54.87, for a total value of $3,292,200.00. Following the completion of the sale, the chief operating officer now owns 174,302 shares in the company, valued at $9,563,950.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total value of $747,600.00. Following the completion of the sale, the senior vice president now owns 108,457 shares of the company’s stock, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. In the last three months, insiders sold 299,001 shares of company stock worth $16,206,741. 1.33% of the stock is owned by corporate insiders.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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