Home Federal Bank of Tennessee Grows Position in The Coca-Cola Company (NYSE:KO)

Home Federal Bank of Tennessee grew its position in The Coca-Cola Company (NYSE:KOGet Rating) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,388 shares of the company’s stock after buying an additional 300 shares during the quarter. Coca-Cola accounts for approximately 0.6% of Home Federal Bank of Tennessee’s holdings, making the stock its 27th biggest holding. Home Federal Bank of Tennessee’s holdings in Coca-Cola were worth $1,597,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Coca-Cola by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock valued at $21,775,641,000 after purchasing an additional 8,961,600 shares in the last quarter. BlackRock Inc. increased its holdings in Coca-Cola by 3.7% during the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock worth $16,563,519,000 after purchasing an additional 9,884,447 shares during the last quarter. State Street Corp increased its holdings in Coca-Cola by 0.8% during the 1st quarter. State Street Corp now owns 171,972,013 shares of the company’s stock worth $10,737,003,000 after purchasing an additional 1,374,105 shares during the last quarter. Wellington Management Group LLP increased its holdings in Coca-Cola by 10.7% during the 1st quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock worth $5,000,550,000 after purchasing an additional 7,800,237 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 51,570,921 shares of the company’s stock worth $3,197,397,000 after acquiring an additional 1,301,902 shares in the last quarter. Hedge funds and other institutional investors own 68.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on KO. Royal Bank of Canada set a $69.00 price objective on Coca-Cola in a research report on Tuesday, July 26th. HSBC boosted their target price on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Credit Suisse Group set a $68.00 price target on Coca-Cola in a research report on Wednesday, July 20th. Finally, StockNews.com upgraded Coca-Cola from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.59.

Coca-Cola Trading Down 1.2 %

Shares of Coca-Cola stock traded down $0.72 during trading on Friday, hitting $58.54. The company’s stock had a trading volume of 358,331 shares, compared to its average volume of 12,330,705. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a 52 week low of $52.28 and a 52 week high of $67.20. The stock has a market cap of $253.16 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54. The stock has a 50-day moving average price of $62.58 and a two-hundred day moving average price of $62.67.

Coca-Cola (NYSE:KOGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s dividend payout ratio is currently 79.64%.

Insider Activity

In related news, insider Henrique Braun sold 11,318 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $64.35, for a total value of $728,313.30. Following the completion of the transaction, the insider now directly owns 22,828 shares of the company’s stock, valued at approximately $1,468,981.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO James Quincey sold 32,000 shares of Coca-Cola stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $64.09, for a total value of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares in the company, valued at approximately $22,542,824.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Henrique Braun sold 11,318 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $64.35, for a total transaction of $728,313.30. Following the completion of the transaction, the insider now owns 22,828 shares in the company, valued at approximately $1,468,981.80. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $2,939,961 in the last three months. Company insiders own 0.98% of the company’s stock.

Coca-Cola Profile

(Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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