Watch Point Trust Co increased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 19.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,405 shares of the company’s stock after buying an additional 9,980 shares during the quarter. The Coca-Cola accounts for approximately 1.8% of Watch Point Trust Co’s holdings, making the stock its 28th biggest position. Watch Point Trust Co’s holdings in The Coca-Cola were worth $3,178,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of The Coca-Cola by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,305,208 shares of the company’s stock worth $535,295,000 after purchasing an additional 183,316 shares during the last quarter. Fort L.P. grew its holdings in shares of The Coca-Cola by 76.1% in the fourth quarter. Fort L.P. now owns 35,737 shares of the company’s stock worth $1,692,000 after purchasing an additional 15,440 shares during the last quarter. Kinneret Advisory LLC bought a new position in The Coca-Cola during the 4th quarter worth about $4,502,000. Captrust Financial Advisors grew its holdings in The Coca-Cola by 29.2% during the 4th quarter. Captrust Financial Advisors now owns 64,632 shares of the company’s stock worth $3,060,000 after acquiring an additional 14,597 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after acquiring an additional 4,528,987 shares in the last quarter. Institutional investors and hedge funds own 66.69% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Tuesday, June 4th. BMO Capital Markets increased their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Credit Suisse Group increased their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley reiterated a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Buy” and an average price target of $54.10.
Shares of NYSE:KO traded up $0.89 during trading on Thursday, reaching $53.88. The stock had a trading volume of 4,799,382 shares, compared to its average volume of 14,180,490. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82. The firm has a market cap of $227.40 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.70 and a beta of 0.48. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The stock has a 50-day moving average of $52.43.
The Coca-Cola (NYSE:KO) last released its quarterly 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 net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same period last year, the business earned $0.61 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In other news, insider Francisco Crespo sold 125,948 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares in the company, valued at approximately $9,331,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the completion of the transaction, the senior vice president now directly owns 57,538 shares of the company’s stock, valued at $2,875,173.86. The disclosure for this sale can be found here. Insiders sold a total of 318,761 shares of company stock worth $16,182,125 over the last 90 days. Company insiders own 1.33% of the company’s stock.
About The Coca-Cola
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 plantbased 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.
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