ProVise Management Group LLC boosted its position in shares of Coca-Cola Company (The) (NYSE:KO) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,512 shares of the company’s stock after buying an additional 23,134 shares during the quarter. Coca-Cola accounts for approximately 1.1% of ProVise Management Group LLC’s investment portfolio, making the stock its 21st largest position. ProVise Management Group LLC’s holdings in Coca-Cola were worth $7,243,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its stake in Coca-Cola by 66.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,514,228 shares of the company’s stock worth $361,344,000 after acquiring an additional 3,387,300 shares during the period. Federated Investors Inc. PA raised its holdings in Coca-Cola by 14.6% in the second quarter. Federated Investors Inc. PA now owns 19,202,172 shares of the company’s stock worth $861,217,000 after purchasing an additional 2,440,395 shares in the last quarter. State Street Corp raised its holdings in Coca-Cola by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock worth $7,375,663,000 after purchasing an additional 2,009,675 shares in the last quarter. First Trust Advisors LP raised its holdings in Coca-Cola by 151.8% in the second quarter. First Trust Advisors LP now owns 2,306,887 shares of the company’s stock worth $103,464,000 after purchasing an additional 1,390,617 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Coca-Cola by 8.1% in the first quarter. Clearbridge Investments LLC now owns 16,111,936 shares of the company’s stock worth $683,791,000 after purchasing an additional 1,208,498 shares in the last quarter. 65.38% of the stock is owned by institutional investors.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the firm’s 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 completion of the sale, the insider now directly owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is currently owned by company insiders.
A number of equities analysts have commented on KO shares. Cowen reiterated a “hold” rating and issued a $42.00 target price on shares of Coca-Cola in a report on Thursday, August 24th. Royal Bank Of Canada restated a “buy” rating and set a $49.00 price objective on shares of Coca-Cola in a report on Wednesday, September 6th. Jefferies Group restated a “hold” rating and set a $47.00 price objective on shares of Coca-Cola in a report on Thursday, September 7th. Vetr upgraded shares of Coca-Cola from a “sell” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Finally, Macquarie initiated coverage on shares of Coca-Cola in a report on Friday, September 15th. They set a “neutral” rating and a $47.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.80.
Shares of Coca-Cola Company (KO) traded up $0.26 during trading hours on Monday, hitting $46.23. The stock had a trading volume of 17,523,480 shares, compared to its average volume of 11,503,192. Coca-Cola Company has a 52-week low of $40.22 and a 52-week high of $47.48. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The stock has a market cap of $196,970.00, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 3.89 and a beta of 0.70.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.73 billion. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. analysts forecast that Coca-Cola Company will post 1.9 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s payout ratio is 140.95%.
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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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