Pettyjohn Wood & White Inc. Acquires 3,025 Shares of The Coca-Cola Co (KO)
Pettyjohn Wood & White Inc. raised its holdings in shares of The Coca-Cola Co (NYSE:KO) by 53.2% in the 2nd quarter, Holdings Channel reports. The fund owned 8,712 shares of the company’s stock after purchasing an additional 3,025 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in The Coca-Cola were worth $382,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Princeton Capital Management LLC bought a new stake in shares of The Coca-Cola in the 1st quarter valued at $100,000. Clarus Wealth Advisors bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at $101,000. WP Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at $107,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter valued at $116,000. Finally, Lee Financial Co increased its position in shares of The Coca-Cola by 385.0% in the 1st quarter. Lee Financial Co now owns 3,759 shares of the company’s stock valued at $163,000 after buying an additional 2,984 shares in the last quarter. Institutional investors own 65.41% of the company’s stock.
In other news, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the transaction, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Murphy sold 111,468 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the transaction, the insider now owns 196,337 shares of the company’s stock, valued at $9,121,817.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,822 shares of company stock valued at $10,027,727. Company insiders own 1.48% of the company’s stock.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the prior year, the business posted $0.59 EPS. The company’s quarterly revenue was down 8.3% on a year-over-year basis. sell-side analysts expect that The Coca-Cola Co will post 2.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.39%. The Coca-Cola’s dividend payout ratio is 81.68%.
A number of equities analysts recently weighed in on the stock. HSBC reaffirmed a “buy” rating and issued a $61.00 target price on shares of The Coca-Cola in a research note on Monday, August 20th. Morgan Stanley reaffirmed a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Tuesday, August 21st. SunTrust Banks upped their target price on shares of The Coca-Cola to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research note on Thursday, July 26th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and issued a $48.00 target price on shares of The Coca-Cola in a research note on Thursday, July 26th. Fourteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and an average price target of $50.28.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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