CRA Financial Services LLC trimmed its holdings in shares of The Coca-Cola Co (NYSE:KO) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 11,612 shares of the company’s stock after selling 299 shares during the quarter. CRA Financial Services LLC’s holdings in The Coca-Cola were worth $591,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of The Coca-Cola during the first quarter worth $28,000. Orrstown Financial Services Inc. raised its holdings in shares of The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of The Coca-Cola during the first quarter worth $35,000. Canton Hathaway LLC raised its holdings in shares of The Coca-Cola by 83.5% during the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after purchasing an additional 430 shares during the period. Finally, PRW Wealth Management LLC acquired a new stake in shares of The Coca-Cola during the fourth quarter worth $50,000. 66.80% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the stock. Atlantic Securities assumed coverage on shares of The Coca-Cola in a report on Monday, July 29th. They set an “overweight” rating and a $62.00 target price on the stock. Royal Bank of Canada reissued a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Co upped their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, Credit Suisse Group upped their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.86.
The Coca-Cola stock opened at $52.33 on Friday. The business’s 50-day moving average price is $52.04. The company has a market capitalization of $222.48 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 3.62 and a beta of 0.48. 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 one year low of $44.25 and a one year high of $54.82.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In related news, SVP Nancy Quan sold 23,320 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the transaction, the senior vice president now owns 165,049 shares in the company, valued at approximately $7,914,099.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James L. Dinkins sold 45,875 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the completion of the transaction, the insider now owns 95,101 shares of the company’s stock, valued at approximately $5,065,079.26. The disclosure for this sale can be found here. Insiders sold a total of 369,175 shares of company stock valued at $18,634,452 in the last quarter. 1.33% of the stock is currently owned by insiders.
The Coca-Cola Company Profile
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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