Epstein & White Financial LLC Reduces Stake in Coca-Cola Co (The) (NYSE:KO)

Epstein & White Financial LLC lowered its holdings in Coca-Cola Co (The) (NYSE:KO) by 14.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,264 shares of the company’s stock after selling 1,204 shares during the period. Epstein & White Financial LLC’s holdings in Coca-Cola were worth $362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. BlackRock Inc. lifted its holdings in Coca-Cola by 6.7% in the 2nd quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after buying an additional 18,701,930 shares during the period. Capital World Investors raised its position in shares of Coca-Cola by 17.8% in the 1st quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after acquiring an additional 5,792,057 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Coca-Cola in the 1st quarter valued at approximately $47,894,000. APG Asset Management N.V. boosted its position in shares of Coca-Cola by 39.7% during the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock valued at $557,173,000 after purchasing an additional 3,580,852 shares in the last quarter. Finally, State Street Corp grew its stake in Coca-Cola by 1.0% in the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock worth $8,185,610,000 after purchasing an additional 1,787,004 shares during the period. Institutional investors and hedge funds own 65.86% of the company’s stock.

Shares of KO stock opened at $50.03 on Friday. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The company’s 50-day moving average is $49.97 and its 200 day moving average is $47.25. The company has a market capitalization of $214.90 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the prior year, the firm posted $0.63 EPS. Coca-Cola’s revenue for the quarter was down 28.0% on a year-over-year basis. As a group, research analysts predict that Coca-Cola Co will post 1.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s dividend payout ratio is currently 77.73%.

KO has been the topic of a number of research reports. Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 target price on the stock. in a report on Tuesday, September 22nd. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Bank of America reaffirmed a “buy” rating and issued a $53.00 target price on shares of Coca-Cola in a research report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.19.

In other Coca-Cola news, Director David B. Weinberg sold 400,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the transaction, the director now owns 355,214 shares in the company, valued at approximately $17,199,461.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Weinberg sold 98,905 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the transaction, the director now owns 355,214 shares in the company, valued at approximately $17,227,879. The disclosure for this sale can be found here. Insiders have sold a total of 836,439 shares of company stock worth $40,380,407 in the last 90 days. Company insiders own 1.01% of the company’s stock.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.

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

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