Gulf International Bank UK Ltd raised its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,277,145 shares of the company’s stock after buying an additional 762 shares during the period. Coca-Cola Company (The) makes up 0.8% of Gulf International Bank UK Ltd’s portfolio, making the stock its 21st largest position. Gulf International Bank UK Ltd’s holdings in Coca-Cola Company (The) were worth $57,279,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in KO. Dodge & Cox acquired a new stake in Coca-Cola Company (The) during the fourth quarter valued at approximately $1,420,000. River & Mercantile Asset Management LLP purchased a new position in shares of Coca-Cola Company (The) during the fourth quarter worth approximately $4,354,000. Ibex Wealth Advisors purchased a new position in shares of Coca-Cola Company (The) during the fourth quarter worth approximately $188,000. Pekin Singer Strauss Asset Management IL increased its position in shares of Coca-Cola Company (The) by 92.2% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 17,200 shares of the company’s stock worth $713,000 after buying an additional 8,250 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Coca-Cola Company (The) by 13.4% in the fourth quarter. Perigon Wealth Management LLC now owns 54,976 shares of the company’s stock worth $2,335,000 after buying an additional 6,489 shares during the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.
Shares of Coca-Cola Company (NYSE KO) traded down 0.41% during midday trading on Friday, reaching $45.67. 10,879,794 shares of the company were exchanged. The company has a market capitalization of $194.80 billion, a PE ratio of 48.23 and a beta of 0.69. Coca-Cola Company has a 52-week low of $39.88 and a 52-week high of $46.43. The firm’s 50 day moving average is $45.25 and its 200-day moving average is $43.72.
Coca-Cola Company (The) (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. Coca-Cola Company (The)’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, equities analysts forecast that Coca-Cola Company will post $1.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.37 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.24%. Coca-Cola Company (The)’s dividend payout ratio is currently 154.17%.
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A number of equities analysts have commented on the stock. Jefferies Group LLC restated a “neutral” rating and set a $45.00 price objective on shares of Coca-Cola Company (The) in a research report on Tuesday, April 25th. Vetr upgraded shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $44.81 price objective for the company in a research report on Monday, April 24th. UBS AG restated a “buy” rating and set a $48.00 price objective on shares of Coca-Cola Company (The) in a research report on Monday, May 15th. Credit Suisse Group restated a “buy” rating and set a $49.00 price objective on shares of Coca-Cola Company (The) in a research report on Monday, July 24th. Finally, BMO Capital Markets restated a “buy” rating and set a $46.00 price objective on shares of Coca-Cola Company (The) in a research report on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.70.
In other Coca-Cola Company (The) news, insider Irial Finan sold 354,146 shares of Coca-Cola Company (The) stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $45.00, for a total transaction of $15,936,570.00. Following the transaction, the insider now owns 780,258 shares of the company’s stock, valued at approximately $35,111,610. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kathy N. Waller sold 8,952 shares of Coca-Cola Company (The) stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $45.77, for a total value of $409,733.04. Following the transaction, the vice president now directly owns 109,508 shares in the company, valued at approximately $5,012,181.16. The disclosure for this sale can be found here. Insiders sold a total of 750,263 shares of company stock worth $34,134,363 in the last three months. 1.51% of the stock is currently owned by company insiders.
About Coca-Cola Company (The)
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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