Albion Financial Group UT Reduces Holdings in The Coca-Cola Co (KO)

Albion Financial Group UT decreased its holdings in The Coca-Cola Co (NYSE:KO) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,855 shares of the company’s stock after selling 1,156 shares during the period. Albion Financial Group UT’s holdings in The Coca-Cola were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of KO. Commerce Bank grew its stake in The Coca-Cola by 2.8% in the 1st quarter. Commerce Bank now owns 615,603 shares of the company’s stock valued at $26,736,000 after purchasing an additional 16,489 shares during the period. Trexquant Investment LP bought a new position in The Coca-Cola in the 1st quarter valued at $358,000. Conning Inc. grew its stake in The Coca-Cola by 18.4% in the 1st quarter. Conning Inc. now owns 1,020,861 shares of the company’s stock valued at $44,336,000 after purchasing an additional 158,681 shares during the period. Linscomb & Williams Inc. grew its stake in The Coca-Cola by 1.3% in the 1st quarter. Linscomb & Williams Inc. now owns 114,700 shares of the company’s stock valued at $4,981,000 after purchasing an additional 1,496 shares during the period. Finally, Capital Investment Counsel Inc grew its stake in The Coca-Cola by 10.4% in the 1st quarter. Capital Investment Counsel Inc now owns 139,598 shares of the company’s stock valued at $6,063,000 after purchasing an additional 13,155 shares during the period. Institutional investors and hedge funds own 65.41% of the company’s stock.

A number of research analysts have issued reports on the company. Macquarie set a $47.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research note on Friday. Guggenheim assumed coverage on The Coca-Cola in a research note on Thursday. They issued a “buy” rating and a $51.00 price objective for the company. Jefferies Financial Group set a $48.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, September 6th. Wells Fargo & Co restated a “buy” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, September 5th. Finally, Morgan Stanley set a $49.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, September 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.31.

Shares of NYSE KO opened at $45.99 on Friday. The Coca-Cola Co has a one year low of $41.45 and a one year high of $48.62. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.15. The firm has a market cap of $197.26 billion, a PE ratio of 24.08, a PEG ratio of 2.85 and a beta of 0.74.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. research analysts expect that The Coca-Cola Co will post 2.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.

In related news, insider John Murphy sold 111,468 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the sale, the insider now owns 196,337 shares of the company’s stock, valued at approximately $9,121,817.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total value of $2,246,043.30. Following the sale, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. Insiders have sold a total of 215,822 shares of company stock worth $10,027,727 in the last three months. 1.48% of the stock is currently owned by insiders.

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 plant?based 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.

Read More: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).

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

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply