Boyd Watterson Asset Management LLC OH lowered its position in The Coca-Cola Co (NYSE:KO) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,485 shares of the company’s stock after selling 2,479 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in The Coca-Cola were worth $1,254,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of The Coca-Cola during the 2nd quarter valued at about $1,268,000. Global X Management Co LLC grew its position in shares of The Coca-Cola by 7.2% during the 2nd quarter. Global X Management Co LLC now owns 40,608 shares of the company’s stock valued at $1,781,000 after buying an additional 2,723 shares during the last quarter. Andra AP fonden grew its position in shares of The Coca-Cola by 37.0% during the 2nd quarter. Andra AP fonden now owns 65,500 shares of the company’s stock valued at $2,873,000 after buying an additional 17,700 shares during the last quarter. Sky Investment Group LLC grew its position in shares of The Coca-Cola by 1.2% during the 2nd quarter. Sky Investment Group LLC now owns 139,967 shares of the company’s stock valued at $6,139,000 after buying an additional 1,725 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of The Coca-Cola by 72.7% during the 2nd quarter. SRS Capital Advisors Inc. now owns 5,553 shares of the company’s stock valued at $243,000 after buying an additional 2,337 shares during the last quarter. 65.51% of the stock is owned by institutional investors.
In related news, insider Jennifer K. Mann sold 15,100 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.40, for a total value of $761,040.00. Following the sale, the insider now directly owns 40,058 shares in the company, valued at approximately $2,018,923.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $49.98, for a total transaction of $499,800.00. Following the completion of the sale, the senior vice president now owns 92,645 shares in the company, valued at $4,630,397.10. The disclosure for this sale can be found here. Insiders sold a total of 374,542 shares of company stock worth $18,436,957 over the last quarter. Insiders own 1.48% of the company’s stock.
The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the previous year, the firm earned $0.50 EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current year.
A number of brokerages recently weighed in on KO. HSBC set a $61.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group reissued a “neutral” rating and set a $49.00 target price on shares of The Coca-Cola in a research note on Monday, December 10th. Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Morgan Stanley set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Wednesday, September 26th. Finally, Bank of America reissued a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research note on Tuesday, October 30th. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.64.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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