Kidder Stephen W lowered its stake in Coca-Cola Co. (NYSE:KO) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 27,053 shares of the company’s stock after selling 100 shares during the period. Kidder Stephen W’s holdings in Coca-Cola were worth $1,226,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Ropes Wealth Advisors LLC increased its stake in Coca-Cola by 24.0% in the second quarter. Ropes Wealth Advisors LLC now owns 43,980 shares of the company’s stock worth $1,994,000 after buying an additional 8,499 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in Coca-Cola during the second quarter worth approximately $632,000. Norinchukin Bank The increased its stake in Coca-Cola by 1.1% in the second quarter. Norinchukin Bank The now owns 973,670 shares of the company’s stock worth $44,136,000 after buying an additional 10,141 shares during the period. Mengis Capital Management Inc. acquired a new stake in Coca-Cola during the second quarter worth approximately $212,000. Finally, Wealthsource Partners LLC increased its stake in Coca-Cola by 32.9% in the second quarter. Wealthsource Partners LLC now owns 5,812 shares of the company’s stock worth $263,000 after buying an additional 1,440 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola Co. (NYSE:KO) traded up 0.26% during trading on Wednesday, hitting $41.65. The stock had a trading volume of 2,123,413 shares. Coca-Cola Co. has a 12-month low of $40.75 and a 12-month high of $47.13. The company has a 50 day moving average of $42.67 and a 200-day moving average of $44.42. The company has a market cap of $179.76 billion, a P/E ratio of 23.96 and a beta of 0.59.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. On average, equities analysts predict that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.37%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
A number of research firms have commented on KO. Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 target price for the company in a report on Tuesday. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Stifel Nicolaus restated a “neutral” rating on shares of Coca-Cola in a research report on Friday, September 30th. Citigroup Inc. restated a “buy” rating and issued a $50.00 price target on shares of Coca-Cola in a research report on Monday, September 19th. Finally, Credit Suisse Group AG assumed coverage on Coca-Cola in a research report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Coca-Cola has an average rating of “Hold” and an average target price of $46.48.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.