Semmax Financial Advisors Inc. Raises Stake in The Coca-Cola Co (NYSE:KO)

Semmax Financial Advisors Inc. raised its holdings in shares of The Coca-Cola Co (NYSE:KO) by 64.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,614 shares of the company’s stock after acquiring an additional 13,235 shares during the quarter. The Coca-Cola comprises approximately 1.1% of Semmax Financial Advisors Inc.’s holdings, making the stock its 28th biggest position. Semmax Financial Advisors Inc.’s holdings in The Coca-Cola were worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of The Coca-Cola by 22.2% during the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after buying an additional 11,126,961 shares during the period. Geode Capital Management LLC increased its position in shares of The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after buying an additional 4,528,987 shares during the period. Norges Bank bought a new stake in shares of The Coca-Cola during the fourth quarter valued at about $1,717,527,000. Legal & General Group Plc increased its position in shares of The Coca-Cola by 7.0% during the fourth quarter. Legal & General Group Plc now owns 19,459,018 shares of the company’s stock valued at $921,367,000 after buying an additional 1,271,906 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of The Coca-Cola by 4.2% during the first quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock valued at $776,113,000 after buying an additional 660,240 shares during the period. 66.84% of the stock is currently owned by institutional investors and hedge funds.

KO has been the topic of several analyst reports. Atlantic Securities initiated coverage on The Coca-Cola in a research report on Monday, July 29th. They set an “overweight” rating and a $62.00 price target on the stock. Bank of America reiterated a “buy” rating and set a $60.00 price target (up from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 31st. Finally, Deutsche Bank upped their price objective on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $54.10.

Shares of KO stock traded down $0.75 during trading on Friday, hitting $53.74. The company had a trading volume of 9,573,642 shares, compared to its average volume of 13,361,314. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The stock’s 50-day moving average is $52.94 and its two-hundred day moving average is $49.30. The stock has a market capitalization of $231.33 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $54.82.

The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The Coca-Cola’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.

In other The Coca-Cola news, VP John Murphy sold 84,400 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the sale, the vice president now owns 133,715 shares of the company’s stock, valued at $6,684,412.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Francisco Crespo sold 125,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the completion of the sale, the insider now directly owns 186,631 shares of the company’s stock, valued at approximately $9,331,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 488,761 shares of company stock valued at $25,417,705. 1.33% of the stock is owned by insiders.

The Coca-Cola 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 plant–based 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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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