Kavar Capital Partners LLC lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,722 shares of the company’s stock after purchasing an additional 1,550 shares during the quarter. Kavar Capital Partners LLC’s holdings in The Coca-Cola were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Davy Asset Management Ltd acquired a new stake in The Coca-Cola during the 2nd quarter worth approximately $891,000. Curbstone Financial Management Corp lifted its holdings in The Coca-Cola by 6.0% during the 2nd quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,170 shares during the last quarter. Marathon Capital Management lifted its holdings in The Coca-Cola by 7.0% during the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock worth $552,000 after purchasing an additional 712 shares during the last quarter. Armbruster Capital Management Inc. lifted its holdings in The Coca-Cola by 1.9% during the 1st quarter. Armbruster Capital Management Inc. now owns 13,602 shares of the company’s stock worth $637,000 after purchasing an additional 250 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its holdings in The Coca-Cola by 1.1% during the 1st quarter. Cypress Wealth Services LLC now owns 98,036 shares of the company’s stock worth $4,594,000 after purchasing an additional 1,066 shares during the last quarter. Institutional investors own 66.69% of the company’s stock.
KO has been the subject of several research reports. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays set a $54.00 price target on The Coca-Cola and gave the stock a “buy” rating in a report on Thursday, May 16th. SunTrust Banks lifted their price target on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, HSBC reissued a “neutral” rating and set a $52.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.10.
In other news, insider James L. Dinkins sold 45,875 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the completion of the transaction, the insider now owns 95,101 shares of the company’s stock, valued at approximately $5,065,079.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total value of $747,600.00. Following the transaction, the senior vice president now directly 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. Insiders have sold a total of 318,761 shares of company stock valued at $16,182,125 in the last three months. 1.33% of the stock is owned by insiders.
Shares of The Coca-Cola stock traded up $0.93 during trading on Thursday, reaching $53.92. 559,873 shares of the company’s stock were exchanged, compared to its average volume of 14,180,490. 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 Coca-Cola Co has a 1-year low of $44.25 and a 1-year high of $54.82. The stock 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 50-day simple moving average of $52.43.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. The Coca-Cola’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The firm 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 dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
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 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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