United Bank Inc. Acquires 1,338 Shares of Coca-Cola Co. (KO)
United Bank Inc. boosted its stake in Coca-Cola Co. (NYSE:KO) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 37,814 shares of the company’s stock after buying an additional 1,338 shares during the period. United Bank Inc.’s holdings in Coca-Cola were worth $1,714,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Telemus Capital LLC boosted its stake in shares of Coca-Cola by 141.3% in the first quarter. Telemus Capital LLC now owns 25,496 shares of the company’s stock valued at $1,183,000 after buying an additional 14,931 shares during the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of Coca-Cola during the first quarter valued at approximately $932,000. Sii Investments Inc. WI raised its position in shares of Coca-Cola by 47.7% in the first quarter. Sii Investments Inc. WI now owns 34,182 shares of the company’s stock valued at $1,582,000 after buying an additional 11,032 shares during the period. Investment Centers of America Inc. raised its position 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 period. Finally, Wade G W & Inc. raised its position 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 period. Institutional investors own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded down 0.22% on Friday, hitting $41.67. The company’s stock had a trading volume of 9,893,840 shares. Coca-Cola Co. has a 1-year low of $40.75 and a 1-year high of $47.13. The company has a 50 day moving average of $42.50 and a 200 day moving average of $44.35. The firm has a market cap of $179.85 billion, a PE ratio of 23.98 and a beta of 0.59.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 32.78% and a net margin of 17.61%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities analysts forecast that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
Several equities analysts have recently commented on the company. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Goldman Sachs Group Inc. set a $46.00 price target on Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, July 12th. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Finally, Vetr raised Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 price target on the stock in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Coca-Cola has an average rating of “Hold” and a consensus target price of $46.60.
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.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Co. (NYSE:KO).
Receive News & Ratings for Coca-Cola Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Co. and related companies with MarketBeat.com's FREE daily email newsletter.