Penobscot Investment Management Company Inc. reduced its holdings in The Coca-Cola Co (NYSE:KO) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,005 shares of the company’s stock after selling 600 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in The Coca-Cola were worth $1,731,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Employers Holdings Inc. bought a new stake in The Coca-Cola during the 2nd quarter worth approximately $1,980,000. Windsor Capital Management LLC increased its holdings in shares of The Coca-Cola by 1.8% in the second quarter. Windsor Capital Management LLC now owns 22,323 shares of the company’s stock worth $1,136,000 after purchasing an additional 394 shares during the period. Capital Wealth Planning LLC increased its holdings in shares of The Coca-Cola by 405.4% in the second quarter. Capital Wealth Planning LLC now owns 68,737 shares of the company’s stock worth $3,500,000 after purchasing an additional 55,137 shares during the period. Next Capital Management LLC increased its holdings in shares of The Coca-Cola by 5.1% in the second quarter. Next Capital Management LLC now owns 17,403 shares of the company’s stock worth $886,000 after purchasing an additional 838 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in The Coca-Cola in the second quarter valued at $3,964,000. Institutional investors own 66.69% of the company’s stock.
KO stock traded up $0.50 during mid-day trading on Friday, reaching $54.37. The company had a trading volume of 497,478 shares, compared to its average volume of 14,256,741. 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 company has a market capitalization of $228.77 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.48. The firm has a 50 day moving average of $52.48 and a 200 day moving average of $49.08. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current 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 given a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. The Coca-Cola’s payout ratio is presently 76.92%.
A number of research analysts have recently issued reports on the company. Morgan Stanley reaffirmed a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note 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 objective on the stock in a research note on Tuesday, June 4th. SunTrust Banks raised their price objective on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Barclays set a $54.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, May 16th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.10.
In other news, SVP Lisa Chang purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the transaction, the senior vice president now owns 5,448 shares in the company, valued at $290,051.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 14,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total transaction of $747,600.00. Following the sale, the senior vice president now owns 108,457 shares in the company, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. Insiders sold a total of 318,761 shares of company stock valued at $16,182,125 in the last ninety days. Corporate insiders own 1.33% of the company’s stock.
The Coca-Cola Company 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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