Zacks Investment Management increased its position in The Coca-Cola Co (NYSE:KO) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,095 shares of the company’s stock after acquiring an additional 8,278 shares during the quarter. Zacks Investment Management’s holdings in The Coca-Cola were worth $39,829,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bontempo Ohly Capital Mgmt LLC boosted its position in shares of The Coca-Cola by 1.7% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock valued at $3,111,000 after acquiring an additional 1,172 shares during the last quarter. Signaturefd LLC boosted its position in shares of The Coca-Cola by 27.2% during the 2nd quarter. Signaturefd LLC now owns 660,147 shares of the company’s stock valued at $28,954,000 after acquiring an additional 140,972 shares during the last quarter. Impax Asset Management LLC boosted its position in shares of The Coca-Cola by 10.5% during the 2nd quarter. Impax Asset Management LLC now owns 47,771 shares of the company’s stock valued at $2,095,000 after acquiring an additional 4,547 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of The Coca-Cola by 49.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 30,646 shares of the company’s stock valued at $1,344,000 after acquiring an additional 10,084 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in The Coca-Cola in the second quarter worth $300,000. 65.41% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the company. TheStreet upgraded The Coca-Cola from a “c+” rating to a “b-” rating in a research report on Tuesday, July 17th. Gabelli restated a “hold” rating on shares of The Coca-Cola in a research report on Thursday, July 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $50.00 price target on shares of The Coca-Cola in a research report on Thursday, July 26th. Guggenheim assumed coverage on The Coca-Cola in a research report on Thursday. They issued a “buy” rating and a $51.00 price target for the company. Finally, Macquarie set a $47.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.31.
The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. sell-side analysts anticipate that The Coca-Cola Co will post 2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
In other news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the transaction, the vice president now owns 200,725 shares in the company, valued at $9,323,676.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Murphy sold 111,468 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total value of $5,178,803.28. Following the transaction, the insider now owns 196,337 shares in the company, valued at approximately $9,121,817.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,822 shares of company stock valued at $10,027,727. Corporate insiders own 1.48% of the company’s stock.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based 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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