McKinley Carter Wealth Services Inc. Increases Stake in The Coca-Cola Co (NYSE:KO)

McKinley Carter Wealth Services Inc. boosted its holdings in The Coca-Cola Co (NYSE:KO) by 1.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,651 shares of the company’s stock after purchasing an additional 215 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in The Coca-Cola were worth $695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Norges Bank purchased a new stake in The Coca-Cola in the fourth quarter worth about $1,717,527,000. FMR LLC grew its holdings in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after purchasing an additional 11,126,961 shares during the period. Geode Capital Management LLC grew its holdings in The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after purchasing an additional 4,528,987 shares during the period. Avalon Advisors LLC grew its holdings in The Coca-Cola by 203.4% in the fourth quarter. Avalon Advisors LLC now owns 3,018,294 shares of the company’s stock worth $142,916,000 after purchasing an additional 2,023,309 shares during the period. Finally, Ronna Sue Cohen lifted its stake in shares of The Coca-Cola by 4,409.4% in the first quarter. Ronna Sue Cohen now owns 1,992,242 shares of the company’s stock worth $1,992,000 after buying an additional 1,948,062 shares in the last quarter. Institutional investors and hedge funds own 66.69% of the company’s stock.

Several brokerages have recently issued reports on KO. SunTrust Banks upped their target price on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Atlantic Securities began coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Buy” and a consensus price target of $54.10.

In related news, VP John Murphy sold 84,400 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total transaction of $4,219,156.00. Following the transaction, the vice president now owns 133,715 shares in the company, valued at $6,684,412.85. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 90 days, insiders have sold 318,761 shares of company stock worth $16,182,125. 1.33% of the stock is owned by insiders.

The Coca-Cola stock traded up $0.54 during midday trading on Friday, reaching $54.41. 13,804,500 shares of the company traded hands, compared to its average volume of 14,722,016. The firm has a market capitalization of $230.35 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 3.75 and a beta of 0.48. The business has a 50 day moving average of $52.54 and a two-hundred day moving average of $49.11. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, equities analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. 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 2.94%. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.

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 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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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