Coca-Cola Co. (KO) Shares Sold by Ledyard National Bank
Ledyard National Bank decreased its stake in Coca-Cola Co. (NYSE:KO) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 31,465 shares of the company’s stock after selling 935 shares during the period. Ledyard National Bank’s holdings in Coca-Cola were worth $1,427,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of KO. Verus Financial Partners Inc. raised its stake in shares of Coca-Cola by 0.5% in the second quarter. Verus Financial Partners Inc. now owns 7,759 shares of the company’s stock valued at $352,000 after buying an additional 41 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Coca-Cola by 1.5% in the second quarter. Arcadia Investment Management Corp MI now owns 3,469 shares of the company’s stock valued at $157,000 after buying an additional 52 shares during the last quarter. Abner Herrman & Brock LLC raised its stake in shares of Coca-Cola by 1.5% in the second quarter. Abner Herrman & Brock LLC now owns 4,740 shares of the company’s stock valued at $216,000 after buying an additional 70 shares during the last quarter. Evanson Asset Management LLC raised its stake in shares of Coca-Cola by 0.9% in the second quarter. Evanson Asset Management LLC now owns 9,814 shares of the company’s stock valued at $445,000 after buying an additional 88 shares during the last quarter. Finally, Balentine LLC raised its stake in shares of Coca-Cola by 1.2% in the first quarter. Balentine LLC now owns 7,599 shares of the company’s stock valued at $353,000 after buying an additional 89 shares during the last quarter. Institutional investors own 64.30% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded up 0.89% during trading on Tuesday, hitting $41.97. 11,297,333 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 $181.14 billion, a price-to-earnings ratio of 24.15 and a beta of 0.59. The firm has a 50 day moving average price of $42.40 and a 200 day moving average price of $44.25.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. Coca-Cola’s revenue for the quarter was down 5.1% on a year-over-year basis. 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 of this dividend was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.34%. Coca-Cola’s dividend payout ratio is 80.46%.
Several equities research analysts have recently issued reports on the stock. Susquehanna restated 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 shares of Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, July 12th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating in a report on Monday, August 1st. Finally, Vetr raised shares of 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 assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus 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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