TD Asset Management Inc. Buys 781,470 Shares of The Coca-Cola Co (NYSE:KO)
TD Asset Management Inc. grew its stake in shares of The Coca-Cola Co (NYSE:KO) by 12.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,158,807 shares of the company’s stock after buying an additional 781,470 shares during the quarter. TD Asset Management Inc. owned approximately 0.17% of The Coca-Cola worth $364,527,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of KO. Arbor Wealth Management LLC increased its position in shares of The Coca-Cola by 13.2% during the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock worth $87,000 after acquiring an additional 199 shares in the last quarter. Investment Partners LTD. grew its position in The Coca-Cola by 1.0% in the 2nd quarter. Investment Partners LTD. now owns 20,577 shares of the company’s stock worth $1,048,000 after purchasing an additional 202 shares in the last quarter. Centerpoint Advisors LLC boosted its stake in The Coca-Cola by 13.3% in the second quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock valued at $88,000 after acquiring an additional 203 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in The Coca-Cola by 3.2% in the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock valued at $310,000 after acquiring an additional 208 shares during the last quarter. Finally, Essex Financial Services Inc. boosted its stake in The Coca-Cola by 1.1% in the second quarter. Essex Financial Services Inc. now owns 19,356 shares of the company’s stock valued at $986,000 after acquiring an additional 213 shares during the last quarter. 66.69% of the stock is currently owned by hedge funds and other institutional investors.
KO has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. HSBC reiterated a “neutral” rating and issued a $52.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, Wells Fargo & Co increased their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola currently has an average rating of “Hold” and an average price target of $53.86.
Shares of NYSE KO traded up $0.18 during mid-day trading on Tuesday, reaching $53.38. The company had a trading volume of 771,596 shares, compared to its average volume of 14,153,410. The stock’s 50-day moving average price is $52.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The firm has a market cap of $228.43 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $54.82.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The firm 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 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
The Coca-Cola Profile
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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