Meyer Handelman Co. Reduces Stake in Coca-Cola Co. (KO)
Meyer Handelman Co. lowered its position in Coca-Cola Co. (NYSE:KO) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 573,400 shares of the company’s stock after selling 2,100 shares during the period. Coca-Cola accounts for 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 28th largest position. Meyer Handelman Co.’s holdings in Coca-Cola were worth $25,991,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in KO. OLD Second National Bank of Aurora raised its position in shares of Coca-Cola by 3.0% in the second quarter. OLD Second National Bank of Aurora now owns 6,747 shares of the company’s stock worth $306,000 after buying an additional 196 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Coca-Cola by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 69,743 shares of the company’s stock worth $3,161,000 after buying an additional 967 shares during the period. LS Investment Advisors LLC raised its position in shares of Coca-Cola by 10.3% in the second quarter. LS Investment Advisors LLC now owns 204,852 shares of the company’s stock worth $9,286,000 after buying an additional 19,171 shares during the period. Clarkston Capital Partners LLC raised its position in shares of Coca-Cola by 8.3% in the second quarter. Clarkston Capital Partners LLC now owns 13,467 shares of the company’s stock worth $610,000 after buying an additional 1,035 shares during the period. Finally, Jolley Asset Management LLC raised its position in shares of Coca-Cola by 20.8% in the second quarter. Jolley Asset Management LLC now owns 4,493 shares of the company’s stock worth $204,000 after buying an additional 775 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.
Shares of Coca-Cola Co. (NYSE:KO) traded up 0.05% on Friday, reaching $41.73. 8,122,809 shares of the company traded hands. The company has a market capitalization of $180.11 billion, a PE ratio of 24.01 and a beta of 0.59. Coca-Cola Co. has a 52-week low of $40.75 and a 52-week high of $47.13. The firm has a 50-day moving average of $42.80 and a 200-day moving average of $44.48.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The company earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a $0.35 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.35%. Coca-Cola’s payout ratio is 80.46%.
A number of brokerages have recently issued reports on KO. Zacks Investment Research lowered shares of Coca-Cola from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “neutral” rating on shares of Coca-Cola in a research report on Friday, September 30th. Citigroup Inc. reiterated a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research report on Monday, September 19th. Vetr lowered shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price objective on the stock. in a research report on Thursday, September 15th. Finally, Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a research report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.50.
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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