UBS Asset Management Americas Inc. Acquires 236,231 Shares of Coca-Cola Co. (KO)
UBS Asset Management Americas Inc. raised its stake in Coca-Cola Co. (NYSE:KO) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,984,219 shares of the company’s stock after buying an additional 236,231 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.25% of Coca-Cola worth $497,915,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new position in shares of Coca-Cola during the second quarter valued at approximately $233,278,000. Canada Pension Plan Investment Board boosted its position 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 valued at $206,086,000 after buying an additional 4,121,188 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Coca-Cola during the second quarter valued at approximately $129,397,000. TIAA CREF Investment Management LLC boosted its position 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 valued at $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 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 valued at $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) opened at 41.60 on Tuesday. The company’s 50-day moving average is $42.45 and its 200 day moving average is $44.29. The firm has a market capitalization of $179.55 billion, a P/E ratio of 23.94 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 announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s payout ratio is 80.46%.
A number of brokerages have commented on KO. Deutsche Bank AG reiterated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Susquehanna restated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a research note on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, July 12th. Finally, Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Coca-Cola has an average rating of “Hold” and an average 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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