Monarch Capital Management Inc. Has $7,509,000 Position in Coca-Cola Co. (KO)
Monarch Capital Management Inc. reduced its position in shares of Coca-Cola Co. (NYSE:KO) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,428 shares of the company’s stock after selling 9,995 shares during the period. Coca-Cola makes up 2.8% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Monarch Capital Management Inc.’s holdings in Coca-Cola were worth $7,509,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in KO. MCF Advisors LLC boosted its stake in Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares during the last quarter. Country Trust Bank boosted its stake in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the last quarter. Lenox Wealth Management Inc. boosted its stake in Coca-Cola by 38.0% in the second quarter. Lenox Wealth Management Inc. now owns 2,611 shares of the company’s stock worth $118,000 after buying an additional 719 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 shares during the last quarter. 63.66% of the stock is owned by institutional investors.
Shares of Coca-Cola Co. (NYSE:KO) traded up 1.00% on Friday, hitting $41.53. The company had a trading volume of 7,402,652 shares. The firm has a market capitalization of $179.12 billion, a price-to-earnings ratio of 25.18 and a beta of 0.68. The company has a 50 day moving average price of $41.80 and a 200 day moving average price of $43.55. Coca-Cola Co. has a 1-year low of $40.63 and a 1-year high of $47.13.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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 business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.47 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis. On average, equities analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.40 annualized dividend and a yield of 3.37%. Coca-Cola’s dividend payout ratio is currently 84.85%.
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A number of research firms have weighed in on KO. Credit Suisse Group AG began coverage on Coca-Cola in a research report on Thursday, September 15th. They set a “neutral” rating and a $44.00 price target for the company. Vetr downgraded Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target for the company. in a research report on Thursday, September 15th. Stifel Nicolaus downgraded Coca-Cola from a “buy” rating to a “hold” rating and reduced their price target for the stock from $50.00 to $45.00 in a research report on Thursday, September 29th. Societe Generale set a $44.00 price target on Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $46.90.
In other Coca-Cola news, VP Kathy N. Waller sold 36,342 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $42.06, for a total value of $1,528,544.52. Following the transaction, the vice president now owns 104,345 shares of the company’s stock, valued at $4,388,750.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.54% of the stock is owned by company insiders.
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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