Gareth Morgan Investments Limited Partnership bought a new stake in Coca-Cola Company (The) (NYSE:KO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 252,992 shares of the company’s stock, valued at approximately $11,347,000. Coca-Cola accounts for approximately 1.0% of Gareth Morgan Investments Limited Partnership’s investment portfolio, making the stock its 19th largest holding.
Several other large investors also recently added to or reduced their stakes in KO. Signature Estate & Investment Advisors LLC grew its holdings in Coca-Cola by 5.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock worth $116,000 after acquiring an additional 129 shares during the period. Meeder Asset Management Inc. grew its holdings in Coca-Cola by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after acquiring an additional 1,026 shares during the period. Perkins Coie Trust Co grew its holdings in Coca-Cola by 21.9% during the second quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after acquiring an additional 572 shares during the period. SRS Capital Advisors Inc. grew its holdings in Coca-Cola by 8.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock worth $141,000 after acquiring an additional 264 shares during the period. Finally, Welch Investments LLC grew its holdings in Coca-Cola by 26.5% during the first quarter. Welch Investments LLC now owns 3,497 shares of the company’s stock worth $148,000 after acquiring an additional 733 shares during the period. 65.38% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares in the company, valued at $14,749,399.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.
KO has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Coca-Cola from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Vetr raised Coca-Cola from a “sell” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Zacks Investment Research raised Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Friday, October 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $49.00 price objective on shares of Coca-Cola in a report on Wednesday, September 6th. Finally, Susquehanna Bancshares set a $41.00 target price on Coca-Cola and gave the company a “hold” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.80.
Shares of Coca-Cola Company (KO) traded up $0.19 during trading hours on Thursday, hitting $46.45. The stock had a trading volume of 8,153,900 shares, compared to its average volume of 11,498,164. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. Coca-Cola Company has a twelve month low of $40.22 and a twelve month high of $47.48. The stock has a market capitalization of $197,098.45, a P/E ratio of 24.48, a P/E/G ratio of 3.91 and a beta of 0.70.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The business had revenue of $9.08 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. sell-side analysts forecast that Coca-Cola Company will post 1.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.37 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.19%. Coca-Cola’s dividend payout ratio is currently 140.95%.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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