The Coca-Cola Co (KO) Shares Bought by Advisory Services Network LLC
Advisory Services Network LLC grew its position in shares of The Coca-Cola Co (NYSE:KO) by 65.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,378 shares of the company’s stock after purchasing an additional 14,726 shares during the period. Advisory Services Network LLC’s holdings in The Coca-Cola were worth $1,676,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of KO. Beaton Management Co. Inc. bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $836,000. Fort Pitt Capital Group LLC lifted its stake in shares of The Coca-Cola by 2.5% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 22,557 shares of the company’s stock valued at $1,012,000 after acquiring an additional 558 shares during the last quarter. Tandem Investment Advisors Inc. lifted its stake in shares of The Coca-Cola by 0.5% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 100,137 shares of the company’s stock valued at $4,491,000 after acquiring an additional 501 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of The Coca-Cola by 360.2% in the 2nd quarter. WINTON GROUP Ltd now owns 24,377 shares of the company’s stock valued at $1,093,000 after acquiring an additional 19,080 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $156,000. 65.38% of the stock is owned by hedge funds and other institutional investors.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on 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 owns 320,013 shares in the company, valued at approximately $14,749,399.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.
The Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The 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 quarter in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. sell-side analysts expect that The Coca-Cola Co will post 1.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. The Coca-Cola’s dividend payout ratio (DPR) is 140.95%.
A number of equities research analysts have recently weighed in on KO shares. Cowen reissued a “hold” rating and issued a $42.00 target price on shares of The Coca-Cola in a research note on Thursday, August 24th. Royal Bank of Canada reissued a “buy” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Wednesday, September 6th. Jefferies Group reissued a “hold” rating and issued a $47.00 target price on shares of The Coca-Cola in a research note on Thursday, September 7th. Vetr raised The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Finally, Macquarie started coverage on The Coca-Cola in a research note on Friday, September 15th. They issued a “neutral” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.80.
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The Coca-Cola Profile
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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