Montag A & Associates Inc. Trims Holdings in The Coca-Cola Co (KO)
Montag A & Associates Inc. reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 6.0% during the 3rd quarter, Holdings Channel reports. The fund owned 657,720 shares of the company’s stock after selling 42,001 shares during the period. The Coca-Cola accounts for about 2.7% of Montag A & Associates Inc.’s holdings, making the stock its 5th largest position. Montag A & Associates Inc.’s holdings in The Coca-Cola were worth $30,380,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. WP Advisors LLC bought a new position in shares of The Coca-Cola during the second quarter valued at approximately $107,000. Westbourne Investment Advisors Inc. bought a new position in shares of The Coca-Cola during the third quarter valued at approximately $117,000. Signature Estate & Investment Advisors LLC bought a new position in shares of The Coca-Cola during the second quarter valued at approximately $116,000. Fort L.P. bought a new position in shares of The Coca-Cola during the second quarter valued at approximately $122,000. Finally, Sageworth Trust Co grew its stake in shares of The Coca-Cola by 69.5% during the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after buying an additional 1,200 shares during the last quarter. 65.79% of the stock is currently owned by institutional investors.
In other news, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction 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 approximately $4,630,397.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Larry M. Mark sold 75,538 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $49.51, for a total value of $3,739,886.38. Following the sale, the vice president now owns 85,755 shares of the company’s stock, valued at approximately $4,245,730.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,442 shares of company stock valued at $17,675,917. 1.48% of the stock is owned by company insiders.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The Coca-Cola’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a yield of 3.09%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
KO has been the subject of a number of research reports. Barclays reiterated a “buy” rating and issued a $50.00 price target on shares of The Coca-Cola in a report on Friday, October 5th. Zacks Investment Research lowered The Coca-Cola from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. HSBC reiterated a “buy” rating and issued a $64.00 price target on shares of The Coca-Cola in a report on Wednesday, October 31st. Jefferies Financial Group set a $48.00 price target on The Coca-Cola and gave the company a “neutral” rating in a report on Thursday, September 6th. Finally, ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $51.43.
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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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