FormulaFolio Investments LLC Has $299,000 Position in Coca-Cola Co. (KO)
FormulaFolio Investments LLC reduced its stake in shares of Coca-Cola Co. (NYSE:KO) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 6,599 shares of the company’s stock after selling 295 shares during the period. FormulaFolio Investments LLC’s holdings in Coca-Cola were worth $299,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. Investment Centers of America Inc. raised its stake in shares of Coca-Cola by 25.6% in the first quarter. Investment Centers of America Inc. now owns 130,836 shares of the company’s stock valued at $6,070,000 after buying an additional 26,651 shares during the last quarter. Wade G W & Inc. raised its stake in shares of Coca-Cola by 6.0% in the first quarter. Wade G W & Inc. now owns 149,193 shares of the company’s stock valued at $6,921,000 after buying an additional 8,498 shares during the last quarter. RKL Wealth Management LLC bought a new stake in shares of Coca-Cola during the first quarter valued at about $779,000. Douglas Lane & Associates LLC bought a new stake in shares of Coca-Cola during the first quarter valued at about $5,755,000. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of Coca-Cola by 53.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,954 shares of the company’s stock valued at $789,000 after buying an additional 5,876 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.43% during trading on Tuesday, hitting $41.55. 2,974,282 shares of the company’s stock were exchanged. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13. The company has a market cap of $179.33 billion, a price-to-earnings ratio of 23.91 and a beta of 0.59. The firm has a 50 day moving average price of $42.73 and a 200 day moving average price of $44.44.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities research analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. Coca-Cola’s dividend payout ratio is 80.46%.
Several research analysts recently commented on KO shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a report on Monday, September 19th. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Finally, Stifel Nicolaus downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $45.00 in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.50.
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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