Stolper Co reduced its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,057 shares of the company’s stock after selling 730 shares during the quarter. Coca-Cola comprises approximately 2.4% of Stolper Co’s holdings, making the stock its 14th largest position. Stolper Co’s holdings in Coca-Cola were worth $5,785,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Coca-Cola by 12.8% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 15,800 shares of the company’s stock worth $980,000 after purchasing an additional 1,788 shares in the last quarter. Arabesque Asset Management Ltd raised its position in Coca-Cola by 104.1% in the 4th quarter. Arabesque Asset Management Ltd now owns 73,354 shares of the company’s stock worth $4,666,000 after buying an additional 37,412 shares during the last quarter. Janney Capital Management LLC lifted its stake in Coca-Cola by 13.5% during the 1st quarter. Janney Capital Management LLC now owns 50,687 shares of the company’s stock valued at $3,144,000 after acquiring an additional 6,020 shares during the period. Procyon Advisors LLC boosted its holdings in Coca-Cola by 26.1% in the first quarter. Procyon Advisors LLC now owns 13,313 shares of the company’s stock worth $826,000 after purchasing an additional 2,758 shares during the last quarter. Finally, National Pension Service lifted its holdings in Coca-Cola by 2.3% in the fourth quarter. National Pension Service now owns 5,950,675 shares of the company’s stock valued at $378,522,000 after acquiring an additional 134,244 shares during the period. 68.96% of the stock is owned by institutional investors.
In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the sale, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,364 shares of company stock worth $14,122,016. 1.00% of the stock is currently owned by corporate insiders.
Coca-Cola Stock Performance
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Analysts predict that The Coca-Cola Company will post 2.63 earnings per share for the current year.
Coca-Cola Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is 75.72%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on KO shares. Wedbush raised their price objective on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. StockNews.com initiated coverage on Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, HSBC lowered their target price on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $68.33.
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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