Rice Partnership LLC bought a new stake in The Coca-Cola Co (NYSE:KO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,026 shares of the company’s stock, valued at approximately $205,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola in the first quarter valued at approximately $28,000. Orrstown Financial Services Inc. lifted its holdings in The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after acquiring an additional 517 shares during the period. Financial Gravity Wealth Inc. acquired a new position in The Coca-Cola in the first quarter valued at approximately $35,000. Canton Hathaway LLC lifted its holdings in The Coca-Cola by 83.5% in the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after acquiring an additional 430 shares during the period. Finally, PRW Wealth Management LLC acquired a new position in The Coca-Cola in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.
In related news, VP Bernhard Goepelt sold 13,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total value of $636,480.00. Following the completion of the transaction, the vice president now directly owns 151,504 shares of the company’s stock, valued at approximately $7,417,635.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 23,320 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the transaction, the senior vice president now directly owns 165,049 shares of the company’s stock, valued at $7,914,099.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 369,175 shares of company stock valued at $18,634,452. 1.33% of the stock is owned by corporate insiders.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.
A number of research analysts have issued reports on the company. Morgan Stanley reissued a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. Deutsche Bank upped their target price on The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group upped their target price on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $53.86.
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.
See Also: What is the float in trading stocks?
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.