Montag & Caldwell LLC lowered its stake in The Coca-Cola Co (NYSE:KO) by 42.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,450 shares of the company’s stock after selling 9,000 shares during the quarter. Montag & Caldwell LLC’s holdings in The Coca-Cola were worth $575,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in The Coca-Cola by 8.7% during the 1st quarter. Principal Financial Group Inc. now owns 8,128,273 shares of the company’s stock valued at $353,011,000 after acquiring an additional 648,091 shares in the last quarter. IFM Investors Pty Ltd boosted its position in The Coca-Cola by 45.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 183,428 shares of the company’s stock valued at $8,045,000 after acquiring an additional 57,413 shares in the last quarter. Empirical Finance LLC boosted its position in The Coca-Cola by 41.6% during the 2nd quarter. Empirical Finance LLC now owns 6,752 shares of the company’s stock valued at $296,000 after acquiring an additional 1,983 shares in the last quarter. Cullinan Associates Inc. boosted its position in The Coca-Cola by 1.2% during the 2nd quarter. Cullinan Associates Inc. now owns 1,227,673 shares of the company’s stock valued at $53,846,000 after acquiring an additional 14,900 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in The Coca-Cola by 1.7% during the 2nd quarter. Fisher Asset Management LLC now owns 558,855 shares of the company’s stock valued at $24,511,000 after acquiring an additional 9,586 shares in the last quarter. 65.45% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on KO shares. Barclays reaffirmed a “buy” rating and set a $50.00 price objective on shares of The Coca-Cola in a research report on Friday, October 5th. Zacks Investment Research cut The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. JPMorgan Chase & Co. reaffirmed a “$45.12” rating and set a $49.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 18th. HSBC reaffirmed a “buy” rating and set a $64.00 price objective on shares of The Coca-Cola in a research report on Wednesday, October 31st. Finally, Jefferies Financial Group set a $48.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.22.
In related news, insider Brian John Smith sold 43,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total value of $2,064,000.00. Following the transaction, the insider now directly owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total value of $479,800.00. Following the completion of the transaction, the senior vice president now directly owns 92,645 shares in the company, valued at $4,445,107.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,754 shares of company stock worth $2,954,800. Insiders own 1.48% of the company’s stock.
Shares of KO opened at $48.69 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $48.78. The company has a market capitalization of $204.76 billion, a PE ratio of 25.49, a P/E/G ratio of 3.14 and a beta of 0.60.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.20%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
COPYRIGHT VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/11/06/the-coca-cola-co-ko-shares-sold-by-montag-caldwell-llc.html.
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.
Read More: Diversification For Individual Investors
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).
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.