Wedbush Securities Inc. Lowers Holdings in The Coca-Cola Co (KO)

Wedbush Securities Inc. lessened its position in shares of The Coca-Cola Co (NYSE:KO) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,983 shares of the company’s stock after selling 4,883 shares during the period. Wedbush Securities Inc.’s holdings in The Coca-Cola were worth $2,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KO. C WorldWide Group Holding A S grew its position in The Coca-Cola by 873.0% during the second quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock valued at $334,692,000 after acquiring an additional 6,846,641 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of The Coca-Cola in the second quarter worth about $206,654,000. Natixis boosted its position in shares of The Coca-Cola by 218.3% in the second quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after buying an additional 2,798,257 shares during the period. Eaton Vance Management boosted its position in shares of The Coca-Cola by 39.4% in the third quarter. Eaton Vance Management now owns 6,792,655 shares of the company’s stock worth $313,752,000 after buying an additional 1,918,931 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of The Coca-Cola by 47.4% in the third quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after buying an additional 1,907,604 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the company’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer K. Mann sold 15,100 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.40, for a total value of $761,040.00. Following the sale, the insider now owns 40,058 shares in the company, valued at approximately $2,018,923.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,542 shares of company stock worth $18,436,957. Insiders own 1.48% of the company’s stock.

Several brokerages have recently weighed in on KO. Wells Fargo & Co reaffirmed a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, September 5th. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $48.00 target price on shares of The Coca-Cola in a research report on Wednesday, August 22nd. Societe Generale set a $49.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, August 13th. Bank of America reaffirmed a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Tuesday, October 30th. Finally, HSBC reaffirmed a “buy” rating and issued a $61.00 target price on shares of The Coca-Cola in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and a consensus price target of $51.43.

NYSE:KO opened at $49.09 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The Coca-Cola Co has a one year low of $41.45 and a one year high of $50.84. The stock has a market capitalization of $210.65 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.61.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $8.20 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was down 9.2% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Co will post 2.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.

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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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