Redmond Asset Management LLC Increases Holdings in The Coca-Cola Co (NYSE:KO)

Redmond Asset Management LLC grew its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,652 shares of the company’s stock after buying an additional 400 shares during the period. Redmond Asset Management LLC’s holdings in The Coca-Cola were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davy Asset Management Ltd purchased a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $891,000. Curbstone Financial Management Corp lifted its holdings in shares of The Coca-Cola by 6.0% in the 2nd quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after purchasing an additional 1,170 shares during the last quarter. Marathon Capital Management lifted its holdings in shares of The Coca-Cola by 7.0% in the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after purchasing an additional 712 shares during the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of The Coca-Cola by 1.9% in the 1st quarter. Armbruster Capital Management Inc. now owns 13,602 shares of the company’s stock valued at $637,000 after purchasing an additional 250 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its holdings in shares of The Coca-Cola by 1.1% in the 1st quarter. Cypress Wealth Services LLC now owns 98,036 shares of the company’s stock valued at $4,594,000 after purchasing an additional 1,066 shares during the last quarter. 66.69% of the stock is owned by institutional investors.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, July 24th. UBS Group boosted their target price on The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Atlantic Securities started coverage on The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price for the company. Finally, 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. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.10.

KO traded up $0.89 on Thursday, hitting $53.88. 4,799,382 shares of the company traded hands, compared to its average volume of 14,180,490. The stock’s 50 day moving average is $52.43. 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 firm has a market cap of $227.40 billion, a PE ratio of 25.90, a PEG ratio of 3.70 and a beta of 0.48. 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 released its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $9.86 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.

In other The Coca-Cola news, insider Jennifer K. Mann sold 9,126 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total transaction of $488,058.48. Following the transaction, the insider now owns 41,175 shares in the company, valued at approximately $2,202,039. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francisco Crespo sold 125,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the completion of the sale, the insider now owns 186,631 shares in the company, valued at approximately $9,331,550. The disclosure for this sale can be found here. Insiders have sold a total of 318,761 shares of company stock worth $16,182,125 in the last quarter. 1.33% of the stock is currently owned by insiders.

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 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.

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

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