WBI Investments Inc. Takes Position in The Coca-Cola Co (NYSE:KO)
WBI Investments Inc. bought a new position in The Coca-Cola Co (NYSE:KO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 57,068 shares of the company’s stock, valued at approximately $2,906,000.
A number of other hedge funds have also recently modified their holdings of KO. Prime Capital Investment Advisors LLC purchased a new position in shares of The Coca-Cola during the 1st quarter valued at about $28,000. Orrstown Financial Services Inc. raised its stake in shares of The Coca-Cola by 230.8% during the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after buying an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of The Coca-Cola during the 1st quarter valued at about $35,000. Canton Hathaway LLC raised its stake in shares of The Coca-Cola by 83.5% during the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after buying an additional 430 shares during the last quarter. Finally, PRW Wealth Management LLC purchased a new position in shares of The Coca-Cola during the 4th quarter valued at about $50,000. Institutional investors own 66.81% of the company’s stock.
Shares of NYSE:KO traded up $1.10 during trading on Friday, reaching $54.17. 11,451,911 shares of the company’s stock traded hands, compared to its average volume of 11,265,594. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The company has a current ratio of 0.83, a quick ratio of 0.91 and a debt-to-equity ratio of 1.44. The stock has a market cap of $231.10 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.88 and a beta of 0.50. The stock has a 50-day simple moving average of $51.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
In related news, insider Jennifer K. Mann sold 9,126 shares of The Coca-Cola stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the sale, the insider now directly owns 41,175 shares in the company, valued at approximately $2,202,039. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Beatriz R. Perez sold 14,000 shares of The Coca-Cola stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total value of $747,600.00. Following the completion of the sale, the senior vice president now owns 108,457 shares in the company, valued at $5,791,603.80. The disclosure for this sale can be found here. Insiders have sold a total of 339,726 shares of company stock worth $16,996,023 over the last 90 days. Insiders own 1.33% of the company’s stock.
A number of equities analysts have weighed in on the company. Bank of America reiterated a “buy” rating and set a $90.00 price objective (down previously from $95.00) on shares of Hexcel in a research note on Wednesday. Credit Suisse Group lifted their price objective on Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday. SunTrust Banks lifted their price objective on CoStar Group to $650.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on Lionsgate from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Co lifted their price objective on Restaurant Brands International from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.45.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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