Schaper Benz & Wise Investment Counsel Inc. WI trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 1.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,251 shares of the company’s stock after selling 950 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in The Coca-Cola were worth $2,457,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in KO. Prime Capital Investment Advisors LLC acquired a new stake in shares of The Coca-Cola in the first quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of The Coca-Cola by 348.8% in the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. Orrstown Financial Services Inc. boosted its holdings in shares of The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after acquiring an additional 517 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of The Coca-Cola in the first quarter valued at approximately $35,000. Finally, Canton Hathaway LLC boosted its holdings in shares of The Coca-Cola by 83.5% in the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after acquiring an additional 430 shares during the period. 66.84% of the stock is owned by hedge funds and other institutional investors.
KO has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Atlantic Securities initiated coverage on The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective for the company. Deutsche Bank increased their price objective on The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and issued a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.10.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period last year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In other The Coca-Cola news, insider Francisco Crespo sold 125,948 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the completion of the transaction, the insider now owns 186,631 shares in the company, valued at $9,331,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Murphy sold 84,400 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the transaction, the vice president now owns 133,715 shares of the company’s stock, valued at approximately $6,684,412.85. The disclosure for this sale can be found here. Insiders sold 318,761 shares of company stock valued at $16,182,125 in the last quarter. 1.33% of the stock is currently owned by company insiders.
The Coca-Cola Company 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.
Read More: Balanced Fund
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.