The Coca-Cola Co (KO) Shares Sold by Wesbanco Bank Inc.
Wesbanco Bank Inc. lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 350,775 shares of the company’s stock after selling 27,648 shares during the quarter. The Coca-Cola makes up about 1.1% of Wesbanco Bank Inc.’s holdings, making the stock its 23rd biggest position. Wesbanco Bank Inc.’s holdings in The Coca-Cola were worth $16,093,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in KO. Veritas Investment Management LLP acquired a new stake in The Coca-Cola during the third quarter worth approximately $135,000. Spectrum Management Group Inc. acquired a new stake in The Coca-Cola during the third quarter worth approximately $137,000. Legacy Advisors LLC acquired a new stake in The Coca-Cola during the third quarter worth approximately $139,000. Almanack Investment Partners LLC. acquired a new stake in The Coca-Cola during the second quarter worth approximately $142,000. Finally, Shine Investment Advisory Services Inc. grew its position in shares of The Coca-Cola by 102.2% during the third quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock worth $143,000 after acquiring an additional 1,610 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors.
In other The Coca-Cola news, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the sale, the insider now owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $45.00, for a total value of $84,735.00. The disclosure for this sale can be found here. In the last three months, insiders sold 124,523 shares of company stock valued at $5,885,511. 1.48% of the stock is owned by corporate insiders.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period last year, the firm posted $0.37 EPS. The Coca-Cola’s quarterly revenue was down 20.2% on a year-over-year basis. equities analysts anticipate that The Coca-Cola Co will post 2.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.50%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio (DPR) is 134.55%.
KO has been the topic of a number of research reports. Evercore ISI upgraded shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $46.04 to $55.00 in a research report on Friday, January 12th. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $46.72 to $51.00 in a research report on Tuesday, November 14th. Deutsche Bank initiated coverage on shares of The Coca-Cola in a research report on Wednesday, December 13th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Vetr upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 target price on the stock in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.21.
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The Coca-Cola Company Profile
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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