US Bancorp DE reduced its position in shares of The Coca-Cola Co (NYSE:KO) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,916,095 shares of the company’s stock after selling 80,987 shares during the quarter. US Bancorp DE’s holdings in The Coca-Cola were worth $148,488,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at about $218,000. Trinity Legacy Partners LLC acquired a new position in shares of The Coca-Cola in the second quarter valued at about $268,000. ETRADE Capital Management LLC grew its stake in shares of The Coca-Cola by 20.3% in the second quarter. ETRADE Capital Management LLC now owns 97,633 shares of the company’s stock valued at $4,971,000 after acquiring an additional 16,460 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of The Coca-Cola by 0.3% in the second quarter. HighTower Advisors LLC now owns 1,862,693 shares of the company’s stock valued at $94,837,000 after acquiring an additional 4,835 shares in the last quarter. Finally, Miles Capital Inc. acquired a new position in shares of The Coca-Cola in the second quarter valued at about $211,000. Hedge funds and other institutional investors own 67.59% of the company’s stock.
KO has been the topic of several research reports. Deutsche Bank upped their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets increased their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Atlantic Securities assumed coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 price objective on the stock. Morgan Stanley set a $60.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Credit Suisse Group increased their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.10.
In other news, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $54.31, for a total value of $7,929,260.00. Following the completion of the transaction, the insider now owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian John Smith sold 60,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the completion of the transaction, the chief operating officer now directly owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The disclosure for this sale can be found here. Insiders sold 299,001 shares of company stock valued at $16,206,741 in the last three months. Company insiders own 1.33% of the company’s stock.
Shares of KO stock traded down $0.94 on Friday, reaching $54.17. The company had a trading volume of 429,042 shares, compared to its average volume of 10,778,863. The stock has a market capitalization of $232.62 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.78 and a beta of 0.44. 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 $55.92. The business’s 50-day moving average is $54.00 and its 200 day moving average is $50.00.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business’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 business earned $0.61 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued 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 dividend yield of 2.95%. 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.
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