Kentucky Retirement Systems Insurance Trust Fund Buys New Position in Coca-Cola Co. (KO)
Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Coca-Cola Co. (NYSE:KO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 157,211 shares of the company’s stock, valued at approximately $7,126,000. Coca-Cola accounts for 1.0% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 18th largest position.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kentucky Retirement Systems acquired a new position in shares of Coca-Cola during the second quarter worth about $15,009,000. Mason Street Advisors LLC purchased a new position in shares of Coca-Cola during the second quarter worth $23,773,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Coca-Cola by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 189,249 shares of the company’s stock worth $8,580,000 after buying an additional 4,770 shares during the last quarter. Front Street Capital Management Inc. purchased a new position in shares of Coca-Cola during the second quarter worth $860,000. Finally, Beacon Trust Co. raised its position in shares of Coca-Cola by 15.8% in the second quarter. Beacon Trust Co. now owns 14,428 shares of the company’s stock worth $654,000 after buying an additional 1,967 shares during the last quarter. Hedge funds and other institutional investors own 63.87% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded down 0.51% during midday trading on Friday, reaching $40.91. The company had a trading volume of 16,345,262 shares. The firm’s 50-day moving average price is $42.03 and its 200 day moving average price is $43.79. Coca-Cola Co. has a 12 month low of $40.63 and a 12 month high of $47.13. The firm has a market capitalization of $176.44 billion, a PE ratio of 24.81 and a beta of 0.68.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.47 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities analysts anticipate that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.40 annualized dividend and a yield of 3.42%. Coca-Cola’s dividend payout ratio (DPR) is presently 84.85%.
A number of brokerages have weighed in on KO. Credit Suisse Group AG began coverage on Coca-Cola in a report on Thursday, September 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. Vetr lowered Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price objective on the stock. in a report on Thursday, September 15th. Stifel Nicolaus lowered Coca-Cola from a “buy” rating to a “hold” rating and decreased their price objective for the company from $50.00 to $45.00 in a report on Thursday, September 29th. Societe Generale set a $44.00 price objective on Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, Jefferies Group restated a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.95.
In other Coca-Cola news, VP Kathy N. Waller sold 36,342 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $42.06, for a total transaction of $1,528,544.52. Following the completion of the sale, the vice president now directly owns 104,345 shares in the company, valued at $4,388,750.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.54% of the company’s stock.
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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