Visionary Asset Management Inc. Reduces Position in The Coca-Cola Co (KO)

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Visionary Asset Management Inc. lowered its position in The Coca-Cola Co (NYSE:KO) by 84.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cognios Capital LLC acquired a new stake in The Coca-Cola during the second quarter worth approximately $1,014,000. Van ECK Associates Corp acquired a new stake in The Coca-Cola in the second quarter valued at approximately $3,400,000. BB&T Securities LLC grew its stake in The Coca-Cola by 0.7% in the second quarter. BB&T Securities LLC now owns 1,142,023 shares of the company’s stock valued at $50,088,000 after acquiring an additional 7,545 shares during the period. Tocqueville Asset Management L.P. grew its stake in The Coca-Cola by 0.3% in the second quarter. Tocqueville Asset Management L.P. now owns 664,869 shares of the company’s stock valued at $29,161,000 after acquiring an additional 1,735 shares during the period. Finally, King Luther Capital Management Corp grew its stake in The Coca-Cola by 7.3% in the second quarter. King Luther Capital Management Corp now owns 2,681,666 shares of the company’s stock valued at $117,618,000 after acquiring an additional 183,053 shares during the period. Hedge funds and other institutional investors own 65.53% of the company’s stock.

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 price objective on shares of The Coca-Cola in a research note on Monday, November 19th. Macquarie reissued a “neutral” rating and issued a $50.00 price objective on shares of The Coca-Cola in a research note on Tuesday, December 4th. Citigroup set a $56.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, November 9th. Bank of America set a $55.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, December 14th. Finally, UBS Group reissued a “neutral” rating and issued a $51.00 price objective (up previously from $50.00) on shares of The Coca-Cola in a research note on Thursday, December 13th. Fourteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $51.78.

Shares of KO stock traded down $0.02 during trading hours on Friday, reaching $47.05. The company had a trading volume of 363,124 shares, compared to its average volume of 14,205,646. The Coca-Cola Co has a 12 month low of $41.45 and a 12 month high of $50.84. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $198.66 billion, a PE ratio of 24.66, a P/E/G ratio of 2.85 and a beta of 0.62.

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 the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The Coca-Cola’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a yield of 3.32%. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.

In other The Coca-Cola news, insider Jennifer K. Mann sold 15,100 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $50.40, for a total value of $761,040.00. Following the sale, the insider now directly owns 40,058 shares in the company, valued at $2,018,923.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 92,645 shares in the company, valued at $4,445,107.10. The disclosure for this sale can be found here. Insiders have sold 374,542 shares of company stock worth $18,436,957 over the last quarter. 1.48% of the stock is currently owned by corporate insiders.

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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 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 The Coca-Cola (NYSE:KO)

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