Coca-Cola Co. (KO) Stake Reduced by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd reduced its position in Coca-Cola Co. (NYSE:KO) by 49.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,290 shares of the company’s stock after selling 5,255 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Coca-Cola were worth $240,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of KO. Investment Centers of America Inc. increased its stake in Coca-Cola by 25.6% in the first quarter. Investment Centers of America Inc. now owns 130,836 shares of the company’s stock worth $6,070,000 after buying an additional 26,651 shares during the last quarter. Wade G W & Inc. increased its stake in Coca-Cola by 6.0% in the first quarter. Wade G W & Inc. now owns 149,193 shares of the company’s stock worth $6,921,000 after buying an additional 8,498 shares during the last quarter. RKL Wealth Management LLC acquired a new stake in Coca-Cola during the first quarter worth about $779,000. Douglas Lane & Associates LLC acquired a new stake in Coca-Cola during the first quarter worth about $5,755,000. Finally, Quantitative Systematic Strategies LLC increased its stake in Coca-Cola by 53.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,954 shares of the company’s stock worth $789,000 after buying an additional 5,876 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.46% during trading on Tuesday, hitting $41.54. 12,249,060 shares of the company traded hands. The stock has a market capitalization of $179.29 billion, a PE ratio of 23.90 and a beta of 0.59. The company has a 50-day moving average of $42.73 and a 200-day moving average of $44.44. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. Coca-Cola’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
A number of equities research analysts recently issued reports on the stock. Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a research note on Thursday, September 15th. They set a “neutral” rating and a $44.00 price target on the stock. Vetr downgraded shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target on the stock. in a research note on Thursday, September 15th. Stifel Nicolaus downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $45.00 in a research note on Thursday, September 29th. Societe Generale set a $44.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Jefferies Group reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Coca-Cola currently has an average rating of “Hold” and an average price target of $46.50.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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