State Treasurer State of Michigan cut its position in shares of Coca-Cola Company (The) (NYSE:KO) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,263,738 shares of the company’s stock after selling 5,500 shares during the period. State Treasurer State of Michigan’s holdings in Coca-Cola Company (The) were worth $56,679,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Advantage Investment Management LLC bought a new position in shares of Coca-Cola Company (The) during the fourth quarter worth about $253,000. Pacific Center for Financial Services bought a new position in shares of Coca-Cola Company (The) during the fourth quarter worth about $304,000. Thrivent Financial for Lutherans increased its position in shares of Coca-Cola Company (The) by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 867,108 shares of the company’s stock worth $35,954,000 after buying an additional 5,319 shares in the last quarter. Pittenger & Anderson Inc. increased its position in shares of Coca-Cola Company (The) by 5.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 31,155 shares of the company’s stock worth $1,292,000 after buying an additional 1,500 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of Coca-Cola Company (The) during the fourth quarter worth about $2,170,000. Institutional investors and hedge funds own 63.68% of the company’s stock.

Shares of Coca-Cola Company (NYSE KO) traded down 0.33% on Friday, hitting $45.59. 8,357,607 shares of the stock traded hands. The company’s 50 day moving average is $45.14 and its 200 day moving average is $43.57. Coca-Cola Company has a one year low of $39.88 and a one year high of $46.43. The stock has a market cap of $194.46 billion, a price-to-earnings ratio of 48.14 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last released its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The company had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, equities analysts forecast that Coca-Cola Company will post $1.90 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.48 annualized dividend and a yield of 3.25%. Coca-Cola Company (The)’s dividend payout ratio (DPR) is presently 154.17%.

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KO has been the topic of a number of research reports. Deutsche Bank AG reissued a “hold” rating and issued a $46.00 price objective (up from $44.00) on shares of Coca-Cola Company (The) in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Friday, July 28th. BMO Capital Markets lowered their price objective on shares of Coca-Cola Company (The) from $47.00 to $46.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. Vetr cut shares of Coca-Cola Company (The) from a “hold” rating to a “sell” rating and set a $44.58 price objective on the stock. in a research note on Monday, June 5th. Finally, BidaskClub raised shares of Coca-Cola Company (The) from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. Coca-Cola Company (The) has a consensus rating of “Hold” and an average price target of $45.70.

In other Coca-Cola Company (The) news, insider Mark Randazza sold 24,156 shares of Coca-Cola Company (The) stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $46.01, for a total transaction of $1,111,417.56. Following the transaction, the insider now owns 26,567 shares of the company’s stock, valued at approximately $1,222,347.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Beatriz R. Perez sold 29,282 shares of Coca-Cola Company (The) stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $45.20, for a total value of $1,323,546.40. Following the transaction, the insider now directly owns 118,000 shares in the company, valued at approximately $5,333,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 614,841 shares of company stock worth $27,900,186. Company insiders own 1.51% of the company’s stock.

About Coca-Cola Company (The)

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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Institutional Ownership by Quarter for Coca-Cola Company (The) (NYSE:KO)

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