Eagle Asset Management Inc. Purchases 1,353,701 Shares of Coca-Cola Company (The) (KO)
Eagle Asset Management Inc. grew its stake in Coca-Cola Company (The) (NYSE:KO) by 264.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,865,581 shares of the company’s stock after acquiring an additional 1,353,701 shares during the quarter. Eagle Asset Management Inc.’s holdings in Coca-Cola were worth $83,671,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Summit Financial Group Inc. acquired a new position in shares of Coca-Cola in the 2nd quarter valued at approximately $2,779,000. Global X Management Co. LLC grew its position in shares of Coca-Cola by 6.0% in the 2nd quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after purchasing an additional 12,513 shares during the period. BB&T Corp grew its position in shares of Coca-Cola by 9.5% in the 2nd quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after purchasing an additional 78,932 shares during the period. Keystone Financial Planning Inc. grew its position in shares of Coca-Cola by 2.1% in the 1st quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock valued at $5,111,000 after purchasing an additional 2,465 shares during the period. Finally, Rothschild Investment Corp IL grew its position in shares of Coca-Cola by 1.3% in the 2nd quarter. Rothschild Investment Corp IL now owns 53,661 shares of the company’s stock valued at $2,407,000 after purchasing an additional 681 shares during the period. 65.38% of the stock is owned by institutional investors.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the sale, the insider now owns 320,013 shares in the company, valued at approximately $14,749,399.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.51% of the company’s stock.
KO has been the subject of several research analyst reports. Zacks Investment Research upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Monday, October 16th. upped their price target on Coca-Cola from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $49.00 price target on shares of Coca-Cola in a research report on Wednesday, September 6th. Bank of America reaffirmed a “buy” rating and set a $52.00 price target (up previously from $50.00) on shares of Coca-Cola in a research report on Monday, October 9th. Finally, Credit Suisse Group set a $51.00 price target on Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.71.
Shares of Coca-Cola Company (NYSE:KO) opened at $45.97 on Friday. Coca-Cola Company has a 12 month low of $40.19 and a 12 month high of $47.48. The stock has a market capitalization of $195,862.86, a P/E ratio of 24.32, a PEG ratio of 3.89 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company had revenue of $9.08 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. research analysts forecast that Coca-Cola Company will post 1.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s dividend payout ratio is currently 140.95%.
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The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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