Concorde Asset Management LLC decreased its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,412 shares of the company’s stock after selling 843 shares during the period. Concorde Asset Management LLC’s holdings in Coca-Cola Company (The) were worth $243,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of KO. Shell Asset Management Co. raised its position in shares of Coca-Cola Company (The) by 0.5% in the first quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock valued at $37,216,000 after buying an additional 4,101 shares in the last quarter. Guinness Asset Management Ltd raised its position in shares of Coca-Cola Company (The) by 13.4% in the first quarter. Guinness Asset Management Ltd now owns 232,940 shares of the company’s stock valued at $9,886,000 after buying an additional 27,560 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in shares of Coca-Cola Company (The) during the fourth quarter valued at about $2,170,000. Lyell Wealth Management LP purchased a new position in shares of Coca-Cola Company (The) during the fourth quarter valued at about $328,000. Finally, Marathon Asset Management LLP raised its position in shares of Coca-Cola Company (The) by 7.3% in the first quarter. Marathon Asset Management LLP now owns 2,699,084 shares of the company’s stock valued at $115,439,000 after buying an additional 184,589 shares in the last quarter. Hedge funds and other institutional investors own 63.94% of the company’s stock.
Shares of Coca-Cola Company (NYSE KO) opened at 44.83 on Thursday. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.06. The firm has a market capitalization of $191.54 billion, a P/E ratio of 31.55 and a beta of 0.69. The company has a 50-day moving average of $45.09 and a 200 day moving average of $43.10. Coca-Cola Company (The) also was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 12,027 put options on the company. This represents an increase of 335% compared to the typical daily volume of 2,763 put options.
Coca-Cola Company (The) (NYSE:KO) last released its earnings results on Tuesday, April 25th. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $9.12 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Coca-Cola Company (The) had a net margin of 15.30% and a return on equity of 33.17%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities research analysts anticipate that Coca-Cola Company will post $1.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Tuesday, June 13th. Coca-Cola Company (The)’s payout ratio is 103.50%.
COPYRIGHT VIOLATION NOTICE: This news story was published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://stocknewstimes.com/2017/07/20/concorde-asset-management-llc-decreases-position-in-coca-cola-company-the-ko.html.
A number of research firms have weighed in on KO. Credit Suisse Group raised Coca-Cola Company (The) from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $44.00 to $49.00 in a report on Wednesday, April 19th. Zacks Investment Research downgraded Coca-Cola Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $48.00 price objective on shares of Coca-Cola Company (The) in a report on Monday, April 10th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Coca-Cola Company (The) in a report on Monday, March 27th. Finally, Vetr raised Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $44.81 price objective on the stock in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.17.
In other Coca-Cola Company (The) news, insider Brian John Smith sold 87,800 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $43.43, for a total value of $3,813,154.00. Following the transaction, the insider now directly owns 149,185 shares in the company, valued at $6,479,104.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Beatriz R. Perez sold 29,282 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $45.20, for a total transaction of $1,323,546.40. Following the completion of the transaction, the insider now owns 118,000 shares in the company, valued at $5,333,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 493,228 shares of company stock worth $22,024,770. Corporate insiders own 1.51% of the company’s stock.
About Coca-Cola Company (The)
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.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Company (The) (NYSE:KO).
Receive News & Ratings for Coca-Cola Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.
