Coca-Cola Co. (KO) Position Cut by Carlton Hofferkamp & Jenks Wealth Management LLC
Carlton Hofferkamp & Jenks Wealth Management LLC decreased its stake in shares of Coca-Cola Co. (NYSE:KO) by 17.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,593 shares of the company’s stock after selling 2,312 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Coca-Cola were worth $480,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter worth approximately $1,503,620,000. Canada Pension Plan Investment Board boosted its stake in Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock worth $206,086,000 after buying an additional 4,121,188 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Coca-Cola by 11.9% in the first quarter. TIAA CREF Investment Management LLC now owns 23,348,604 shares of the company’s stock worth $1,083,142,000 after buying an additional 2,475,256 shares during the last quarter. State Street Corp boosted its stake in Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock worth $7,768,816,000 after buying an additional 1,511,559 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Coca-Cola by 7.5% in the first quarter. Loomis Sayles & Co. L P now owns 15,018,480 shares of the company’s stock worth $696,707,000 after buying an additional 1,048,500 shares during the last quarter. Institutional investors and hedge funds own 64.42% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.52% during mid-day trading on Friday, reaching $42.14. The company’s stock had a trading volume of 16,353,971 shares. The company has a 50-day moving average price of $43.60 and a 200 day moving average price of $44.80. The company has a market cap of $181.88 billion, a PE ratio of 24.25 and a beta of 0.57. Coca-Cola Co. has a 52-week low of $38.47 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The business earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. Equities analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.32%. Coca-Cola’s payout ratio is currently 80.46%.
KO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Independent Research GmbH set a $38.00 target price on Coca-Cola and gave the stock a “sell” rating in a research note on Monday, August 1st. Vetr cut Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 target price on the stock. in a research note on Thursday. Deutsche Bank AG reiterated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Finally, SunTrust Banks Inc. reiterated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.75.
In other Coca-Cola news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $45.25, for a total transaction of $25,916,847.00. Following the completion of the transaction, the executive vice president now owns 291,675 shares of the company’s stock, valued at $13,198,293.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.54% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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