Coca-Cola Co. (KO) Shares Bought by Allegis Investment Advisors LLC
Allegis Investment Advisors LLC raised its position in Coca-Cola Co. (NYSE:KO) by 29.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,380 shares of the company’s stock after buying an additional 6,996 shares during the period. Allegis Investment Advisors LLC’s holdings in Coca-Cola were worth $1,350,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in KO. Emerald Acquisition Ltd. purchased a new position in Coca-Cola during the second quarter worth about $233,278,000. Canada Pension Plan Investment Board boosted its position in 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 during the last quarter. Bank of Montreal Can purchased a new position in Coca-Cola during the second quarter worth about $129,397,000. TIAA CREF Investment Management LLC boosted its position in 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 during the last quarter. Finally, Acadian Asset Management LLC boosted its position in 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 during the last quarter. Institutional investors and hedge funds own 64.30% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.190% during mid-day trading on Monday, reaching $41.749. The company’s stock had a trading volume of 1,471,908 shares. The firm’s 50 day moving average is $42.50 and its 200 day moving average is $44.35. The firm has a market cap of $180.19 billion, a PE ratio of 24.021 and a beta of 0.59. Coca-Cola Co. has a one year low of $40.75 and a one year high of $47.13.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. Coca-Cola’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, equities analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. Coca-Cola’s payout ratio is 80.46%.
A number of research firms have recently issued reports on KO. Susquehanna reiterated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Goldman Sachs Group Inc. set a $46.00 target price on Coca-Cola and gave the company 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 target price for the company in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Coca-Cola currently has an average rating of “Hold” and an average price target 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.
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