Twin Capital Management Inc. cut its position in shares of The Coca-Cola Co (NYSE:KO) by 28.1% during the second quarter, Holdings Channel reports. The institutional investor owned 236,016 shares of the company’s stock after selling 92,174 shares during the quarter. Twin Capital Management Inc.’s holdings in The Coca-Cola were worth $12,018,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in KO. Prime Capital Investment Advisors LLC bought a new stake in The Coca-Cola during the 1st quarter worth about $28,000. Orrstown Financial Services Inc. lifted its position in The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in The Coca-Cola during the 1st quarter worth about $35,000. Canton Hathaway LLC lifted its position in The Coca-Cola by 83.5% during the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after buying an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new stake in The Coca-Cola during the 4th quarter worth about $50,000. 66.69% of the stock is currently owned by institutional investors and hedge funds.
In other The Coca-Cola news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total transaction of $488,058.48. Following the transaction, the insider now owns 41,175 shares in the company, valued at approximately $2,202,039. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Francisco Crespo sold 125,948 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the transaction, the insider now owns 186,631 shares in the company, valued at approximately $9,331,550. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,761 shares of company stock worth $16,182,125. 1.33% of the stock is owned by company insiders.
Several equities research analysts have commented on KO shares. Barclays set a $54.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, June 4th. Morgan Stanley reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 31st. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, Atlantic Securities began coverage on shares of The Coca-Cola in a research report on Monday, July 29th. They set an “overweight” rating and a $62.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.10.
Shares of KO stock traded up $0.81 on Thursday, reaching $53.80. The stock had a trading volume of 5,141,985 shares, compared to its average volume of 14,180,490. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82. The stock has a market capitalization of $227.40 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48. The stock’s 50-day moving average price is $52.43. 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 (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The Coca-Cola’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
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.
Further Reading: Net Income
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.