Kornitzer Capital Management Inc. KS trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,145,147 shares of the company’s stock after selling 6,107 shares during the period. The Coca-Cola comprises about 0.9% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 19th largest holding. Kornitzer Capital Management Inc. KS’s holdings in The Coca-Cola were worth $52,539,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Veritas Investment Management LLP bought a new stake in shares of The Coca-Cola in the third quarter valued at about $135,000. Spectrum Management Group Inc. bought a new stake in shares of The Coca-Cola in the third quarter valued at about $137,000. Legacy Advisors LLC bought a new stake in shares of The Coca-Cola in the third quarter valued at about $139,000. Almanack Investment Partners LLC. bought a new stake in shares of The Coca-Cola in the second quarter valued at about $142,000. Finally, Shine Investment Advisory Services Inc. lifted its holdings in shares of The Coca-Cola by 102.2% in the third quarter. Shine Investment Advisory Services Inc. now owns 3,185 shares of the company’s stock valued at $143,000 after purchasing an additional 1,610 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.
Shares of The Coca-Cola Co (KO) opened at $44.53 on Tuesday. The Coca-Cola Co has a twelve month low of $41.83 and a twelve month high of $48.62. The stock has a market capitalization of $191,197.89, a PE ratio of 164.93, a P/E/G ratio of 2.60 and a beta of 0.77. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 14th. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is presently 548.15%.
A number of analysts have recently commented on the company. Morningstar set a $48.50 price target on The Coca-Cola and gave the company a “buy” rating in a report on Wednesday, February 28th. Credit Suisse Group restated an “outperform” rating and issued a $53.00 price target (up from $51.00) on shares of The Coca-Cola in a report on Tuesday, February 20th. Jefferies Group restated a “neutral” rating and issued a $49.00 price target on shares of The Coca-Cola in a report on Tuesday, February 20th. Morgan Stanley restated a “neutral” rating and issued a $49.00 price target (up from $48.00) on shares of The Coca-Cola in a report on Monday, February 19th. Finally, Societe Generale restated a “neutral” rating and issued a $48.80 price target on shares of The Coca-Cola in a report on Monday, February 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and an average price target of $49.21.
In other The Coca-Cola news, insider Ed Hays sold 84,400 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kathy N. Waller sold 23,240 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the sale, the chief financial officer now owns 123,796 shares in the company, valued at approximately $5,713,185.40. The disclosure for this sale can be found here. Insiders have sold 122,640 shares of company stock worth $5,800,776 in the last quarter. 1.48% of the stock is currently owned by corporate insiders.
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The Coca-Cola 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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