CrestPoint Capital Management LLC lowered its position in Coca-Cola Company (The) (NYSE:KO) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,100 shares of the company’s stock after selling 200 shares during the period. CrestPoint Capital Management LLC’s holdings in Coca-Cola Company (The) were worth $1,574,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Portfolio Solutions LLC purchased a new position in Coca-Cola Company (The) during the first quarter worth about $108,000. Signature Estate & Investment Advisors LLC raised its position in Coca-Cola Company (The) by 5.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock worth $116,000 after buying an additional 129 shares during the period. Meeder Asset Management Inc. raised its position in Coca-Cola Company (The) by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after buying an additional 1,026 shares during the period. SRS Capital Advisors Inc. bought a new position in Coca-Cola Company (The) during the fourth quarter worth $127,000. Finally, Perkins Coie Trust Co raised its position in Coca-Cola Company (The) by 21.9% in the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after buying an additional 572 shares during the period. 63.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coca-Cola Company (NYSE:KO) traded down 0.33% on Friday, reaching $45.59. The company’s stock had a trading volume of 8,357,607 shares. The company’s 50 day moving average is $45.13 and its 200-day moving average is $43.54. Coca-Cola Company has a 1-year low of $39.88 and a 1-year high of $46.43. The firm has a market cap of $194.46 billion, a price-to-earnings ratio of 48.14 and a beta of 0.69.
Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $9.62 billion. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts expect that Coca-Cola Company will post $1.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.37 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.48 annualized dividend and a yield of 3.25%. Coca-Cola Company (The)’s dividend payout ratio is 154.17%.
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A number of equities analysts recently weighed in on KO shares. Zacks Investment Research lowered Coca-Cola Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Credit Suisse Group upgraded Coca-Cola Company (The) from a “neutral” rating to an “outperform” rating and increased their price target for the company from $44.00 to $49.00 in a research report on Wednesday, April 19th. UBS AG increased their price target on Coca-Cola Company (The) from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $47.00 price target on Coca-Cola Company (The) and gave the company a “neutral” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG restated a “hold” rating and set a $46.00 price objective (up from $44.00) on shares of Coca-Cola Company (The) in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. Coca-Cola Company (The) has an average rating of “Hold” and an average price target of $45.70.
In other news, insider Beatriz R. Perez sold 29,282 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $45.20, for a total transaction of $1,323,546.40. Following the transaction, the insider now owns 118,000 shares in the company, valued at $5,333,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Irial Finan sold 354,146 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $45.00, for a total value of $15,936,570.00. Following the transaction, the insider now owns 780,258 shares in the company, valued at approximately $35,111,610. The disclosure for this sale can be found here. Insiders sold 614,841 shares of company stock worth $27,900,186 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.
Coca-Cola Company (The) Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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