Coca-Cola Co. (KO) Stake Cut by Schnieders Capital Management LLC
Schnieders Capital Management LLC lowered its position in Coca-Cola Co. (NYSE:KO) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 20,267 shares of the company’s stock after selling 177 shares during the period. Schnieders Capital Management LLC’s holdings in Coca-Cola were worth $919,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in shares of Coca-Cola during the second quarter worth about $233,278,000. Canada Pension Plan Investment Board boosted its stake in shares of Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock worth $206,086,000 after buying an additional 4,121,188 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Coca-Cola during the second quarter worth about $129,397,000. TIAA CREF Investment Management LLC boosted its stake in shares of Coca-Cola by 11.9% in the first quarter. TIAA CREF Investment Management LLC now owns 23,348,604 shares of the company’s stock worth $1,083,142,000 after buying an additional 2,475,256 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Coca-Cola by 49.5% in the second quarter. Acadian Asset Management LLC now owns 6,583,264 shares of the company’s stock worth $298,418,000 after buying an additional 2,180,803 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.26% on Wednesday, hitting $41.65. 2,123,413 shares of the stock traded hands. The stock has a 50-day moving average price of $42.67 and a 200 day moving average price of $44.42. The firm has a market cap of $179.76 billion, a P/E ratio of 23.96 and a beta of 0.59. 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 earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.50 billion for 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 firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities research analysts predict that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s payout ratio is presently 80.46%.
A number of brokerages have recently issued reports on KO. Susquehanna restated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Goldman Sachs Group Inc. set a $46.00 price objective on Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, July 12th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Finally, Vetr upgraded Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 price objective for the company in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola has a consensus rating of “Hold” and an average target price of $46.48.
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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