Orion Portfolio Solutions LLC reduced its holdings in Coca-Cola Co (The) (NYSE:KO) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,685 shares of the company’s stock after selling 1,584 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Coca-Cola were worth $835,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Aspiriant LLC increased its position in Coca-Cola by 5.2% in the 2nd quarter. Aspiriant LLC now owns 19,121 shares of the company’s stock valued at $854,000 after acquiring an additional 950 shares during the period. AE Wealth Management LLC increased its position in Coca-Cola by 59.9% in the 2nd quarter. AE Wealth Management LLC now owns 327,510 shares of the company’s stock valued at $14,633,000 after acquiring an additional 122,633 shares during the period. WealthTrust Axiom LLC increased its position in shares of Coca-Cola by 1.5% during the second quarter. WealthTrust Axiom LLC now owns 21,779 shares of the company’s stock worth $973,000 after buying an additional 321 shares during the period. Howland Capital Management LLC increased its position in shares of Coca-Cola by 3.6% during the second quarter. Howland Capital Management LLC now owns 51,342 shares of the company’s stock worth $2,294,000 after buying an additional 1,807 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of Coca-Cola by 22.6% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 32,825 shares of the company’s stock worth $1,452,000 after buying an additional 6,041 shares during the period. Hedge funds and other institutional investors own 65.86% of the company’s stock.
Shares of Coca-Cola stock traded up $0.28 during trading hours on Wednesday, reaching $51.33. The company’s stock had a trading volume of 231,819 shares, compared to its average volume of 17,959,832. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The company has a market capitalization of $219.28 billion, a P/E ratio of 24.18, a P/E/G ratio of 5.91 and a beta of 0.55. The stock’s fifty day simple moving average is $48.75 and its two-hundred day simple moving average is $47.20. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 28.0% compared to the same quarter last year. As a group, research analysts forecast that Coca-Cola Co will post 1.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.73%.
In related news, Director David B. Weinberg sold 400,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at $17,199,461.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Edward Long sold 37,534 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the transaction, the senior vice president now directly owns 82,502 shares in the company, valued at $3,977,421.42. The disclosure for this sale can be found here. Insiders sold 836,439 shares of company stock worth $40,380,407 over the last ninety days. Insiders own 1.01% of the company’s stock.
Several research firms have recently weighed in on KO. Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price objective for the company. in a research report on Wednesday, May 27th. Bank of America reiterated a “buy” rating and set a $53.00 price objective on shares of Coca-Cola in a research report on Friday, July 17th. Finally, Morgan Stanley upgraded shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Coca-Cola currently has a consensus rating of “Buy” and a consensus price target of $54.05.
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.
Featured Story: What are defining characteristics of a correction?
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co (The) (NYSE:KO).
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.