Coca-Cola Company (The) (KO) Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Coca-Cola Company (The) (NYSE:KO) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,056,945 shares of the company’s stock after acquiring an additional 32,630 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola were worth $47,404,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in KO. Summit Financial Group Inc. acquired a new stake in Coca-Cola in the second quarter valued at $2,779,000. Global X Management Co. LLC grew its holdings in Coca-Cola by 6.0% in the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after purchasing an additional 12,513 shares during the last quarter. Montecito Bank & Trust grew its holdings in Coca-Cola by 90.2% in the first quarter. Montecito Bank & Trust now owns 127,096 shares of the company’s stock valued at $5,394,000 after purchasing an additional 60,258 shares during the last quarter. BB&T Corp grew its holdings in Coca-Cola by 9.5% in the second quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after purchasing an additional 78,932 shares during the last quarter. Finally, Keystone Financial Planning Inc. grew its holdings in Coca-Cola by 2.1% in the first quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock valued at $5,111,000 after purchasing an additional 2,465 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares in the company, valued at $14,749,399.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.
Several analysts have weighed in on KO shares. BMO Capital Markets lowered their target price on Coca-Cola from $47.00 to $46.00 and set a “market perform” rating on the stock in a report on Monday, July 31st. BidaskClub raised Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $49.00 target price on shares of Coca-Cola in a report on Wednesday, August 2nd. Finally, Citigroup Inc. set a $53.00 price objective on Coca-Cola and gave the company a “buy” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.71.
Coca-Cola Company (KO) opened at $45.88 on Friday. Coca-Cola Company has a 12-month low of $39.88 and a 12-month high of $47.48. The firm has a market capitalization of $195,479.41, a PE ratio of 24.28, a P/E/G ratio of 3.88 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The firm had revenue of $9.08 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. analysts predict that Coca-Cola Company will post 1.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.48 annualized dividend and a yield of 3.23%. Coca-Cola’s dividend payout ratio (DPR) is presently 140.95%.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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