Gamco Investors INC. ET AL Trims Stake in The Coca-Cola Co (KO)

Gamco Investors INC. ET AL trimmed its position in The Coca-Cola Co (NYSE:KO) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 769,159 shares of the company’s stock after selling 38,594 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The Coca-Cola were worth $35,527,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. WP Advisors LLC bought a new stake in The Coca-Cola during the second quarter worth approximately $107,000. Signature Estate & Investment Advisors LLC bought a new stake in The Coca-Cola during the second quarter worth approximately $116,000. Westbourne Investment Advisors Inc. bought a new stake in The Coca-Cola during the third quarter worth approximately $117,000. Fort L.P. purchased a new position in shares of The Coca-Cola during the second quarter valued at approximately $122,000. Finally, Sageworth Trust Co boosted its position in shares of The Coca-Cola by 69.5% during the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after buying an additional 1,200 shares during the period. 65.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE KO opened at $49.68 on Friday. 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 company has a market capitalization of $209.50 billion, a P/E ratio of 26.01, a PEG ratio of 3.22 and a beta of 0.60. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $49.89.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $8.25 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. Analysts anticipate that The Coca-Cola Co will post 2.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.14%. The Coca-Cola’s payout ratio is 81.68%.

Several research analysts have issued reports on KO shares. Barclays restated a “buy” rating and set a $50.00 target price on shares of The Coca-Cola in a research report on Friday, October 5th. Zacks Investment Research lowered The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. JPMorgan Chase & Co. restated a “$45.12” rating and set a $49.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 18th. HSBC restated a “buy” rating and set a $64.00 target price on shares of The Coca-Cola in a research report on Wednesday, October 31st. Finally, Jefferies Financial Group set a $48.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.43.

In related news, insider Robert Edward Long sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $48.65, for a total value of $729,750.00. Following the completion of the sale, the insider now owns 68,029 shares in the company, valued at $3,309,610.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,445,107.10. The disclosure for this sale can be found here. Insiders sold 176,354 shares of company stock valued at $8,559,188 in the last quarter. 1.48% of the stock is owned by company insiders.

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The Coca-Cola Company 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.

Further Reading: Penny Stocks, Risk and Reward Factors

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

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