Coca-Cola Co. (KO) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in shares of Coca-Cola Co. (NYSE:KO) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,099,270 shares of the company’s stock after buying an additional 345,810 shares during the period. BNP Paribas Arbitrage SA’s holdings in Coca-Cola were worth $95,160,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barnett & Company Inc. bought a new position in Coca-Cola during the first quarter worth approximately $149,000. Wealthsource Partners LLC bought a new position in Coca-Cola during the first quarter worth approximately $203,000. Magnetar Financial LLC bought a new position in Coca-Cola during the first quarter worth approximately $217,000. Catamount Wealth Management raised its position in Coca-Cola by 40.2% in the first quarter. Catamount Wealth Management now owns 5,161 shares of the company’s stock worth $239,000 after buying an additional 1,481 shares in the last quarter. Finally, Cabot Wealth Management Inc. bought a new position in Coca-Cola during the first quarter worth approximately $246,000. Institutional investors and hedge funds own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.69% on Friday, reaching $42.32. 14,375,702 shares of the company traded hands. The stock has a market cap of $182.65 billion, a price-to-earnings ratio of 24.35 and a beta of 0.57. Coca-Cola Co. has a 52-week low of $40.43 and a 52-week high of $47.13. The stock has a 50 day moving average of $43.12 and a 200 day moving average of $44.61.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts expect that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
KO has been the topic of several recent research reports. Credit Suisse Group AG initiated coverage on shares of Coca-Cola in a research report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price target on the stock. Vetr lowered shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target on the stock. in a research report on Thursday, September 15th. Stifel Nicolaus lowered shares of Coca-Cola from a “buy” rating to a “hold” rating and decreased their price target for the stock from $50.00 to $45.00 in a research report on Thursday. Societe Generale set a $44.00 price target on shares of Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, August 8th. Finally, Susquehanna restated a “hold” rating and issued a $39.00 price target on shares of Coca-Cola in a research report on Sunday, June 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.50.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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