Whitener Capital Management Inc. boosted its holdings in The Coca-Cola Co (NYSE:KO) by 14.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,267 shares of the company’s stock after purchasing an additional 3,100 shares during the period. Whitener Capital Management Inc.’s holdings in The Coca-Cola were worth $1,235,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Holderness Investments Co. boosted its position in The Coca-Cola by 4.1% in the second quarter. Holderness Investments Co. now owns 25,647 shares of the company’s stock worth $1,306,000 after purchasing an additional 1,011 shares during the last quarter. Pettyjohn Wood & White Inc. boosted its position in The Coca-Cola by 16.7% in the second quarter. Pettyjohn Wood & White Inc. now owns 10,814 shares of the company’s stock worth $551,000 after purchasing an additional 1,545 shares during the last quarter. Bingham Osborn & Scarborough LLC boosted its position in The Coca-Cola by 48.0% in the second quarter. Bingham Osborn & Scarborough LLC now owns 8,800 shares of the company’s stock worth $448,000 after purchasing an additional 2,854 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in The Coca-Cola by 1.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 41,980 shares of the company’s stock worth $2,138,000 after purchasing an additional 560 shares during the last quarter. Finally, Forbes J M & Co. LLP boosted its position in The Coca-Cola by 9.6% in the second quarter. Forbes J M & Co. LLP now owns 218,662 shares of the company’s stock worth $11,134,000 after purchasing an additional 19,189 shares during the last quarter. 66.69% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on KO. Bank of America reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 4th. UBS Group boosted their target price on The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Deutsche Bank boosted their target price on The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.10.
Shares of NYSE:KO traded up $0.54 during midday trading on Friday, reaching $54.41. 13,804,500 shares of the company traded hands, compared to its average volume of 14,697,970. 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 Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82. The firm has a market capitalization of $226.59 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 3.68 and a beta of 0.48. The firm’s fifty day moving average price is $52.54 and its two-hundred day moving average price is $49.11.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts forecast 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. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. The Coca-Cola’s payout ratio is 76.92%.
In other The Coca-Cola news, VP John Murphy sold 84,400 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $49.99, for a total value of $4,219,156.00. Following the transaction, the vice president now directly owns 133,715 shares in the company, valued at approximately $6,684,412.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Edward Long sold 30,412 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total value of $1,519,687.64. Following the completion of the transaction, the senior vice president now owns 57,538 shares in the company, valued at $2,875,173.86. The disclosure for this sale can be found here. Insiders sold a total of 318,761 shares of company stock worth $16,182,125 over the last 90 days. Corporate insiders own 1.33% of the company’s stock.
About The Coca-Cola
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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