Natixis purchased a new position in The Coca-Cola Co (NYSE:KO) in the second quarter, HoldingsChannel reports. The fund purchased 264,397 shares of the company’s stock, valued at approximately $13,463,000.
Several other institutional investors also recently modified their holdings of the company. Davy Asset Management Ltd bought a new stake in The Coca-Cola in the 2nd quarter worth about $891,000. Curbstone Financial Management Corp lifted its holdings in shares of The Coca-Cola by 6.0% in the second quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock worth $1,046,000 after buying an additional 1,170 shares in the last quarter. Marathon Capital Management grew its position in shares of The Coca-Cola by 7.0% during the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after purchasing an additional 712 shares in the last quarter. Boston Advisors LLC grew its position in The Coca-Cola by 257.9% during the second quarter. Boston Advisors LLC now owns 112,785 shares of the company’s stock worth $5,743,000 after buying an additional 81,271 shares in the last quarter. Finally, Armbruster Capital Management Inc. increased its position in shares of The Coca-Cola by 1.9% in the first quarter. Armbruster Capital Management Inc. now owns 13,602 shares of the company’s stock worth $637,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 67.59% of the company’s stock.
KO has been the topic of several research reports. Deutsche Bank lifted their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley set a $60.00 price target on The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, HSBC restated a “neutral” rating and issued a $52.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.10.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. On average, sell-side analysts expect that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
In other The Coca-Cola news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total transaction of $488,058.48. Following the sale, the insider now directly owns 41,175 shares in the company, valued at approximately $2,202,039. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Brian John Smith sold 60,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the sale, the chief operating officer now owns 174,302 shares in the company, valued at $9,563,950.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,001 shares of company stock valued at $16,206,741. Company insiders own 1.33% of the company’s stock.
About The Coca-Cola
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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