The Coca-Cola Co (KO) Shares Sold by Visionary Asset Management Inc.
Visionary Asset Management Inc. lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 84.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,587 shares of the company’s stock after selling 47,224 shares during the period. Visionary Asset Management Inc.’s holdings in The Coca-Cola were worth $407,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. IMS Capital Management bought a new position in The Coca-Cola during the 3rd quarter valued at approximately $73,000. Westbourne Investment Advisors Inc. bought a new position in The Coca-Cola during the 3rd quarter valued at approximately $117,000. Fort L.P. bought a new position in The Coca-Cola during the 2nd quarter valued at approximately $122,000. Sageworth Trust Co raised its position in The Coca-Cola by 69.5% during the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after purchasing an additional 1,200 shares during the last quarter. Finally, BDO Wealth Advisors LLC raised its position in The Coca-Cola by 104.9% during the 2nd quarter. BDO Wealth Advisors LLC now owns 3,163 shares of the company’s stock valued at $139,000 after purchasing an additional 1,619 shares during the last quarter. 65.53% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on KO shares. Barclays reiterated a “buy” rating and set a $50.00 target price on shares of The Coca-Cola in a report on Friday, October 5th. Zacks Investment Research downgraded The Coca-Cola from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. HSBC reiterated a “buy” rating and set a $64.00 target price on shares of The Coca-Cola in a report on Wednesday, October 31st. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $46.00 target price on shares of The Coca-Cola in a report on Thursday, October 18th. Fourteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The Coca-Cola presently has an average rating of “Hold” and a consensus price target of $51.78.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the consensus estimate 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 business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period last year, the business posted $0.50 EPS. The company’s revenue was down 9.2% compared to the same quarter last year. As a group, research analysts forecast that The Coca-Cola Co will post 2.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.32%. The Coca-Cola’s dividend payout ratio is 81.68%.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total transaction of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,445,107.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the sale, the senior vice president now owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,542 shares of company stock worth $18,436,957. Company insiders own 1.48% of the company’s stock.
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The Coca-Cola 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.
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