Adams Diversified Equity Fund Inc. Continues to Hold Position in Coca-Cola Co. (KO)
Adams Diversified Equity Fund Inc. continued to hold its position in shares of Coca-Cola Co. (NYSE:KO) during the second quarter, Holdings Channel reports. The firm owned 186,000 shares of the company’s stock at the end of the second quarter. Adams Diversified Equity Fund Inc.’s holdings in Coca-Cola were worth $8,431,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock valued at $15,727,000 after buying an additional 32,457 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock valued at $95,160,000 after buying an additional 345,810 shares during the last quarter. Credit Agricole S A boosted its stake in shares of Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock valued at $211,397,000 after buying an additional 238,344 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock valued at $30,549,000 after buying an additional 2,488 shares during the last quarter. Finally, Avalon Advisors LLC boosted its stake in shares of Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock valued at $30,707,000 after buying an additional 62,060 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Co. (NYSE:KO) traded down 0.22% during mid-day trading on Friday, reaching $41.67. The company’s stock had a trading volume of 9,893,840 shares. The firm has a market cap of $179.85 billion, a PE ratio of 23.98 and a beta of 0.59. Coca-Cola Co. has a 12-month low of $40.75 and a 12-month high of $47.13. The company has a 50-day moving average price of $42.50 and a 200-day moving average price of $44.35.
Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Coca-Cola Co. will post $1.91 earnings per share 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 issued 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 3.36%. Coca-Cola’s dividend payout ratio (DPR) is 80.46%.
Several brokerages have recently weighed in on KO. RBC Capital Markets set a $49.00 price target on Coca-Cola and gave the company a “buy” rating in a research note on Thursday. Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 price target for the company in a research note on Tuesday. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Stifel Nicolaus reissued a “neutral” rating on shares of Coca-Cola in a research note on Friday, September 30th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $50.00 price target on shares of Coca-Cola in a research note on Monday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.60.
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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