Sullivan Bruyette Speros & Blaney LLC boosted its holdings in The Coca-Cola Co (NYSE:KO) by 8.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,934 shares of the company’s stock after buying an additional 2,656 shares during the period. Sullivan Bruyette Speros & Blaney LLC’s holdings in The Coca-Cola were worth $1,677,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after buying an additional 11,126,961 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $2,200,726,000 after buying an additional 4,528,987 shares during the last quarter. Norges Bank purchased a new stake in The Coca-Cola during the 4th quarter valued at $1,717,527,000. Legal & General Group Plc raised its stake in The Coca-Cola by 7.0% during the 4th quarter. Legal & General Group Plc now owns 19,459,018 shares of the company’s stock valued at $921,367,000 after buying an additional 1,271,906 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in The Coca-Cola by 4.2% during the 1st quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock valued at $776,113,000 after buying an additional 660,240 shares during the last quarter. 66.84% of the stock is currently owned by institutional investors and hedge funds.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 14,000 shares of the 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 completion of the sale, the senior vice president now owns 108,457 shares in the company, valued at approximately $5,791,603.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Lisa Chang purchased 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $53.24 per share, with a total value of $26,620.00. Following the purchase, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The disclosure for this purchase can be found here. Insiders sold a total of 318,761 shares of company stock valued at $16,182,125 in the last quarter. 1.33% of the stock is currently owned by company insiders.
KO stock traded down $0.45 during trading on Tuesday, reaching $54.24. The company’s stock had a trading volume of 2,265,637 shares, compared to its average volume of 14,918,661. The Coca-Cola Co has a 1 year low of $44.25 and a 1 year high of $54.82. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $232.66 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. The company’s fifty day moving average is $52.75 and its 200-day moving average is $49.19.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The Coca-Cola’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The Coca-Cola’s payout ratio is presently 76.92%.
A number of equities research analysts have weighed in on the stock. UBS Group boosted their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price objective on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Barclays set a $54.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, May 16th. Credit Suisse Group upped their price objective on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Bank of America restated a “buy” rating and issued 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 company. The Coca-Cola currently has an average rating of “Buy” and an average price target of $54.10.
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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