Roanoke Asset Management Corp NY cut its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,739 shares of the company’s stock after selling 305 shares during the period. Roanoke Asset Management Corp NY’s holdings in Coca-Cola Company (The) were worth $2,724,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Aristotle Capital Management LLC boosted its stake in shares of Coca-Cola Company (The) by 17,376.6% in the fourth quarter. Aristotle Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $202,883,000 after buying an additional 4,865,457 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Coca-Cola Company (The) during the fourth quarter valued at $558,000. Norges Bank purchased a new stake in shares of Coca-Cola Company (The) during the fourth quarter valued at $1,486,731,000. Sowell Financial Services LLC purchased a new stake in shares of Coca-Cola Company (The) during the fourth quarter valued at $3,488,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Coca-Cola Company (The) during the fourth quarter valued at $6,501,000. 63.80% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Company (NYSE KO) traded up 0.13% during trading on Wednesday, reaching $46.25. 3,640,509 shares of the company were exchanged. Coca-Cola Company has a 52-week low of $39.88 and a 52-week high of $46.42. The stock has a market capitalization of $197.27 billion, a PE ratio of 48.84 and a beta of 0.69. The firm’s 50 day moving average is $45.18 and its 200 day moving average is $43.66. Coca-Cola Company (The) also was the recipient of unusually large options trading on Tuesday. Stock investors acquired 19,279 call options on the stock. This is an increase of 223% compared to the average volume of 5,965 call options.

Coca-Cola Company (The) (NYSE:KO) last issued its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. Analysts expect that Coca-Cola Company will post $1.90 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio is presently 154.17%.

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Several brokerages recently weighed in on KO. Deutsche Bank AG reaffirmed a “hold” rating and issued a $46.00 target price (up previously from $44.00) on shares of Coca-Cola Company (The) in a report on Thursday, July 27th. Zacks Investment Research raised shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Friday, July 28th. BMO Capital Markets reduced their target price on shares of Coca-Cola Company (The) from $47.00 to $46.00 and set a “market perform” rating on the stock in a report on Monday, July 31st. Vetr cut shares of Coca-Cola Company (The) from a “hold” rating to a “sell” rating and set a $44.58 target price on the stock. in a report on Monday, June 5th. Finally, BidaskClub raised shares of Coca-Cola Company (The) from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Coca-Cola Company (The) presently has a consensus rating of “Hold” and a consensus target price of $45.70.

In other Coca-Cola Company (The) news, insider Mark Randazza sold 24,156 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $46.01, for a total value of $1,111,417.56. Following the sale, the insider now directly owns 26,567 shares of the company’s stock, valued at $1,222,347.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Irial Finan sold 354,146 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $45.00, for a total value of $15,936,570.00. Following the completion of the sale, the insider now directly owns 780,258 shares in the company, valued at $35,111,610. The disclosure for this sale can be found here. Insiders sold 650,263 shares of company stock worth $29,524,363 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Coca-Cola Company (The) Company Profile

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

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