Fort Pitt Capital Group LLC Increases Position in The Coca-Cola Co (KO)
Fort Pitt Capital Group LLC raised its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,557 shares of the company’s stock after buying an additional 558 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in The Coca-Cola were worth $1,012,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Swiss National Bank grew its position in shares of The Coca-Cola by 3.0% during the 2nd quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock worth $735,069,000 after buying an additional 470,700 shares during the period. Summit Financial Group Inc. acquired a new position in shares of The Coca-Cola during the 2nd quarter worth about $2,779,000. Global X Management Co. LLC grew its position in shares of The Coca-Cola by 6.0% during the 2nd quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock worth $9,966,000 after buying an additional 12,513 shares during the period. BB&T Corp grew its position in shares of The Coca-Cola by 9.5% during the 2nd quarter. BB&T Corp now owns 913,715 shares of the company’s stock worth $40,980,000 after buying an additional 78,932 shares during the period. Finally, Keystone Financial Planning Inc. grew its position in shares of The Coca-Cola by 2.1% during the 1st quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock worth $5,111,000 after buying an additional 2,465 shares during the period. Institutional investors own 65.38% of the company’s stock.
The Coca-Cola Co (NYSE:KO) opened at $45.90 on Thursday. The firm has a market capitalization of $192,965.61, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 3.88 and a beta of 0.70. The Coca-Cola Co has a 1 year low of $40.22 and a 1 year high of $47.48. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. sell-side analysts forecast that The Coca-Cola Co will post 1.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is 140.95%.
KO has been the topic of several recent analyst reports. Vetr upgraded The Coca-Cola from a “sell” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Royal Bank of Canada set a $49.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Sunday, November 12th. Goldman Sachs Group set a $45.00 price objective on The Coca-Cola and gave the company a “sell” rating in a report on Wednesday, November 15th. Jefferies Group set a $47.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a report on Friday, October 13th. Finally, Zacks Investment Research cut The Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $47.80.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’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 transaction, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by insiders.
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The Coca-Cola Profile
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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