Jensen Investment Management Inc. cut its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,957,548 shares of the company’s stock after selling 10,430 shares during the period. The Coca-Cola accounts for about 1.8% of Jensen Investment Management Inc.’s holdings, making the stock its 25th biggest position. Jensen Investment Management Inc. owned approximately 0.07% of The Coca-Cola worth $133,119,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in KO. Meeder Asset Management Inc. boosted its position in shares of The Coca-Cola by 59.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after purchasing an additional 1,026 shares in the last quarter. Eagle Ridge Investment Management acquired a new position in shares of The Coca-Cola during the 2nd quarter worth $138,000. Legacy Advisors LLC acquired a new position in shares of The Coca-Cola during the 3rd quarter worth $139,000. Almanack Investment Partners LLC. acquired a new position in shares of The Coca-Cola during the 2nd quarter worth $142,000. Finally, Perkins Coie Trust Co raised its stake in shares of The Coca-Cola by 21.9% during the 2nd quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock worth $143,000 after buying an additional 572 shares during the last quarter. Institutional investors and hedge funds own 65.35% of the company’s stock.
In other news, CFO Kathy N. Waller sold 23,240 shares of The Coca-Cola stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the sale, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola 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 sale, the insider now directly owns 24,673 shares of the company’s stock, valued at $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 460,649 shares of company stock worth $21,379,611 in the last three months. 1.51% of the stock is owned by insiders.
The Coca-Cola Co (NYSE:KO) traded up $0.18 on Wednesday, reaching $47.59. The company’s stock had a trading volume of 10,960,082 shares, compared to its average volume of 11,140,000. The Coca-Cola Co has a 12-month low of $40.22 and a 12-month high of $48.62. The firm has a market cap of $202,770.00, a price-to-earnings ratio of 45.32, a P/E/G ratio of 3.82 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30.
Several brokerages recently weighed in on KO. Evercore ISI raised shares of The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $46.04 to $55.00 in a research note on Friday, January 12th. Goldman Sachs Group set a $49.00 target price on The Coca-Cola and gave the stock a “sell” rating in a report on Wednesday, January 10th. Vetr cut The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 target price for the company. in a report on Monday, January 8th. Jefferies Group set a $50.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.01.
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About The Coca-Cola
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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