Employers Holdings Inc. acquired a new position in shares of The Coca-Cola Co (NYSE:KO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 38,881 shares of the company’s stock, valued at approximately $1,980,000. The Coca-Cola accounts for about 1.1% of Employers Holdings Inc.’s holdings, making the stock its 25th biggest position.
Several other hedge funds have also recently made changes to their positions in KO. Prime Capital Investment Advisors LLC acquired a new stake in shares of The Coca-Cola in the first quarter worth $28,000. Orrstown Financial Services Inc. raised its holdings in The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in The Coca-Cola during the 1st quarter worth about $35,000. Canton Hathaway LLC raised its holdings in The Coca-Cola by 83.5% during the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after purchasing an additional 430 shares during the last quarter. Finally, PRW Wealth Management LLC acquired a new position in shares of The Coca-Cola during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 66.69% of the company’s stock.
Several equities analysts have recently issued reports on KO shares. BMO Capital Markets boosted their target price on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Credit Suisse Group boosted their price objective on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley reiterated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 31st. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $54.10.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The Coca-Cola’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
In related news, SVP Beatriz R. Perez sold 14,000 shares of The Coca-Cola stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total transaction of $747,600.00. Following the sale, the senior vice president now directly owns 108,457 shares in the company, valued at $5,791,603.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer K. Mann sold 9,126 shares of The Coca-Cola stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the sale, the insider now owns 41,175 shares in the company, valued at $2,202,039. The disclosure for this sale can be found here. Insiders have sold 318,761 shares of company stock worth $16,182,125 over the last quarter. 1.33% of the stock is currently owned by corporate insiders.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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