Constitution Capital LLC grew its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 172.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,910 shares of the company’s stock after acquiring an additional 19,559 shares during the quarter. Coca-Cola accounts for 1.1% of Constitution Capital LLC’s holdings, making the stock its 18th biggest position. Constitution Capital LLC’s holdings in Coca-Cola were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $77,000. Merit Financial Group LLC boosted its holdings in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after buying an additional 1,754 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after buying an additional 43,680 shares during the last quarter. Ergoteles LLC boosted its holdings in shares of Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after buying an additional 15,110 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after acquiring an additional 301,804 shares during the period. 68.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
KO has been the topic of a number of research analyst reports. Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. HSBC dropped their price target on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Wedbush increased their price target on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, StockNews.com assumed coverage on Coca-Cola in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.33.
Read Our Latest Analysis on Coca-Cola
Coca-Cola Price Performance
NYSE:KO traded down $0.22 during trading hours on Tuesday, hitting $58.08. The company’s stock had a trading volume of 3,235,684 shares, compared to its average volume of 13,103,602. The stock has a fifty day simple moving average of $60.49 and a 200-day simple moving average of $61.25. The company has a market capitalization of $251.16 billion, a P/E ratio of 23.99, a PEG ratio of 3.40 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99.
Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. During the same period last year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s payout ratio is 75.72%.
Insider Activity
In other news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares in the company, valued at $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $60.90, for a total value of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is currently owned by corporate insiders.
About Coca-Cola
(Free Report)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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