Coca-Cola Company (The) (KO) Stake Maintained by Covington Investment Advisors Inc.
Covington Investment Advisors Inc. continued to hold its position in shares of Coca-Cola Company (The) (NYSE:KO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,825 shares of the company’s stock at the close of the 2nd quarter. Covington Investment Advisors Inc.’s holdings in Coca-Cola were worth $2,549,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Summit Financial Group Inc. bought a new stake in Coca-Cola in the second quarter valued at approximately $2,779,000. Global X Management Co. LLC boosted its holdings in Coca-Cola by 6.0% in the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after acquiring an additional 12,513 shares during the last quarter. BB&T Corp boosted its holdings in Coca-Cola by 9.5% in the second quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after acquiring an additional 78,932 shares during the last quarter. Keystone Financial Planning Inc. boosted its holdings in Coca-Cola by 2.1% in the first quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock valued at $5,111,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Rothschild Investment Corp IL boosted its holdings in Coca-Cola by 1.3% in the second quarter. Rothschild Investment Corp IL now owns 53,661 shares of the company’s stock valued at $2,407,000 after acquiring an additional 681 shares during the last quarter. Institutional investors own 65.38% of the company’s stock.
Several brokerages recently commented on KO. TheStreet cut Coca-Cola from a “b” rating to a “c+” rating in a report on Thursday. Wells Fargo & Company upgraded Coca-Cola from a “hold” rating to an “outperform” rating and upped their target price for the company from $45.00 to $51.00 in a report on Sunday, November 26th. Goldman Sachs Group set a $45.00 target price on Coca-Cola and gave the company a “sell” rating in a report on Tuesday, November 21st. Susquehanna Bancshares set a $45.00 target price on Coca-Cola and gave the company a “hold” rating in a report on Tuesday, November 21st. Finally, J P Morgan Chase & Co set a $49.00 target price on Coca-Cola and gave the company a “neutral” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.71.
Coca-Cola Company (KO) opened at $45.97 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. Coca-Cola Company has a 12-month low of $40.19 and a 12-month high of $47.48. The firm has a market capitalization of $195,010.73, a P/E ratio of 24.22, a PEG ratio of 3.87 and a beta of 0.70.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The company had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Coca-Cola’s revenue for the quarter was down 14.6% on a year-over-year basis. research analysts predict that Coca-Cola Company will post 1.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s payout ratio is 140.95%.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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