Davy Asset Management Ltd Invests $811,000 in The Coca-Cola Co (KO) Stock
Davy Asset Management Ltd acquired a new position in shares of The Coca-Cola Co (NYSE:KO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,500 shares of the company’s stock, valued at approximately $811,000.
Other institutional investors have also recently made changes to their positions in the company. Clarus Wealth Advisors bought a new position in shares of The Coca-Cola in the second quarter worth about $101,000. WP Advisors LLC bought a new position in shares of The Coca-Cola in the second quarter worth about $107,000. Signature Estate & Investment Advisors LLC bought a new position in shares of The Coca-Cola in the second quarter worth about $116,000. Fort L.P. bought a new position in shares of The Coca-Cola in the second quarter worth about $122,000. Finally, Lee Financial Co lifted its holdings in shares of The Coca-Cola by 385.0% in the first quarter. Lee Financial Co now owns 3,759 shares of the company’s stock worth $163,000 after acquiring an additional 2,984 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
KO has been the subject of a number of research reports. Macquarie set a $47.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Friday, September 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $50.00 price objective on shares of The Coca-Cola in a report on Thursday, July 26th. Morgan Stanley set a $49.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, September 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $48.00 price objective on shares of The Coca-Cola in a report on Friday, August 31st. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $52.00 price objective on shares of The Coca-Cola in a report on Wednesday, September 5th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $50.31.
The Coca-Cola stock opened at $45.96 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $48.62. The company has a market cap of $195.93 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.83 and a beta of 0.74.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter last year, the business earned $0.59 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. analysts forecast that The Coca-Cola Co will post 2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.56 annualized dividend and a yield of 3.39%. The Coca-Cola’s payout ratio is 81.68%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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