Wealthsource Partners LLC increased its position in shares of Coca-Cola Co. (NYSE:KO) by 32.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,812 shares of the company’s stock after buying an additional 1,440 shares during the period. Wealthsource Partners LLC’s holdings in Coca-Cola were worth $263,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in KO. CHURCHILL MANAGEMENT Corp increased its stake in Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the period. BNP Paribas Arbitrage SA increased its stake in Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock worth $95,160,000 after buying an additional 345,810 shares during the period. Credit Agricole S A increased its stake in Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares during the period. Capstone Asset Management Co. increased its stake in Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the period. Finally, Avalon Advisors LLC increased its stake in Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock worth $30,707,000 after buying an additional 62,060 shares during the period. Institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.05% on Friday, reaching $41.73. 8,122,809 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $42.80 and a 200 day moving average of $44.48. Coca-Cola Co. has a one year low of $40.75 and a one year high of $47.13. The firm has a market capitalization of $180.11 billion, a P/E ratio of 24.01 and a beta of 0.59.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research 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. Shareholders of record on Thursday, September 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
A number of analysts have recently weighed in on the stock. Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 target price on the stock. Vetr downgraded 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 report on Thursday, September 15th. Stifel Nicolaus cut shares of Coca-Cola from a “buy” rating to a “hold” rating and dropped their price target for the stock from $50.00 to $45.00 in a research note on Thursday, September 29th. Societe Generale set a $44.00 price target on shares of Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Coca-Cola has a consensus rating of “Hold” and a consensus target price of $46.50.
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.