FUKOKU MUTUAL LIFE INSURANCE Co reduced its position in shares of Coca-Cola Co. (NYSE:KO) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 18,700 shares of the company’s stock after selling 2,200 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Coca-Cola were worth $848,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in KO. Emerald Acquisition Ltd. purchased a new position in shares of Coca-Cola during the second quarter valued at about $233,278,000. Canada Pension Plan Investment Board boosted its position in shares of Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock valued at $206,086,000 after buying an additional 4,121,188 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Coca-Cola during the second quarter valued at about $129,397,000. TIAA CREF Investment Management LLC boosted its position in shares of Coca-Cola by 11.9% in the first quarter. TIAA CREF Investment Management LLC now owns 23,348,604 shares of the company’s stock valued at $1,083,142,000 after buying an additional 2,475,256 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Coca-Cola by 49.5% in the second quarter. Acadian Asset Management LLC now owns 6,583,264 shares of the company’s stock valued at $298,418,000 after buying an additional 2,180,803 shares in the last quarter. 64.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Coca-Cola Co. (NYSE:KO) opened at 42.23 on Friday. Coca-Cola Co. has a 12 month low of $40.75 and a 12 month high of $47.13. The firm has a 50-day moving average of $42.15 and a 200 day moving average of $44.04. The firm has a market cap of $182.14 billion, a P/E ratio of 25.61 and a beta of 0.59.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The business earned $10.60 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same quarter last year, the company posted $0.51 EPS. Coca-Cola’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.32%. Coca-Cola’s dividend payout ratio (DPR) is 84.85%.
Several equities research analysts have commented on KO shares. Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Independent Research GmbH set a $38.00 target price on shares of Coca-Cola and gave the stock a “sell” rating in a research report on Monday, August 1st. RBC Capital Markets set a $49.00 target price on shares of Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, October 13th. Vetr lowered shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 target price on the stock. in a research report on Thursday, September 15th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned 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 a consensus target price of $46.60.
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.