Coho Partners Ltd. boosted its holdings in The Coca-Cola Co (NYSE:KO) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,550 shares of the company’s stock after purchasing an additional 12,419 shares during the quarter. The Coca-Cola makes up about 0.5% of Coho Partners Ltd.’s investment portfolio, making the stock its 29th largest holding. Coho Partners Ltd.’s holdings in The Coca-Cola were worth $23,248,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after buying an additional 11,126,961 shares during the period. Geode Capital Management LLC grew 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 acquiring an additional 4,528,987 shares in the last quarter. Norges Bank purchased a new position in The Coca-Cola during the 4th quarter valued at about $1,717,527,000. Clearbridge Investments LLC grew 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 acquiring an additional 660,240 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in The Coca-Cola by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,305,208 shares of the company’s stock valued at $535,295,000 after acquiring an additional 183,316 shares in the last quarter. 67.59% of the stock is owned by hedge funds and other institutional investors.
NYSE:KO traded down $0.40 during trading hours on Friday, reaching $54.71. The company had a trading volume of 65,816 shares, compared to its average volume of 10,778,863. The Coca-Cola Co has a one year low of $44.25 and a one year high of $55.92. The stock has a 50-day moving average of $54.00 and a two-hundred day moving average of $50.00. 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 firm has a market capitalization of $232.62 billion, a PE ratio of 26.30, a PEG ratio of 3.78 and a beta of 0.44.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 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 company had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The Coca-Cola’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 2.92%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
Several research firms have weighed in on KO. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 target price 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 target for the company in a research note on Tuesday, June 4th. BMO Capital Markets boosted their price target on The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Atlantic Securities assumed 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, SunTrust Banks upped their price target on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $54.10.
In related news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the sale, the insider now owns 41,175 shares in the company, valued at $2,202,039. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian John Smith sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the sale, the chief operating officer now owns 174,302 shares in the company, valued at approximately $9,563,950.74. The disclosure for this sale can be found here. Insiders sold a total of 299,001 shares of company stock valued at $16,206,741 over the last ninety days. Insiders own 1.33% of the company’s stock.
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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