The Coca-Cola Co (NYSE:KO) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. cut its stake in The Coca-Cola Co (NYSE:KO) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,387 shares of the company’s stock after selling 2,500 shares during the quarter. The Coca-Cola comprises approximately 0.3% of First Business Financial Services Inc.’s investment portfolio, making the stock its 15th biggest position. First Business Financial Services Inc.’s holdings in The Coca-Cola were worth $1,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of KO. LVM Capital Management Ltd. MI grew its holdings in shares of The Coca-Cola by 3.3% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 25,238 shares of the company’s stock worth $1,285,000 after purchasing an additional 800 shares during the period. Baystate Wealth Management LLC boosted its holdings in The Coca-Cola by 7.3% during the 2nd quarter. Baystate Wealth Management LLC now owns 4,933 shares of the company’s stock valued at $254,000 after acquiring an additional 336 shares during the period. Rockland Trust Co. boosted its holdings in The Coca-Cola by 3.6% during the 2nd quarter. Rockland Trust Co. now owns 153,296 shares of the company’s stock valued at $7,806,000 after acquiring an additional 5,375 shares during the period. WINTON GROUP Ltd boosted its holdings in The Coca-Cola by 22.4% during the 2nd quarter. WINTON GROUP Ltd now owns 996,025 shares of the company’s stock valued at $50,718,000 after acquiring an additional 182,609 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in shares of The Coca-Cola by 22.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 69,276 shares of the company’s stock valued at $3,527,000 after buying an additional 12,717 shares during the period. 67.32% of the stock is owned by institutional investors and hedge funds.

KO traded down $0.08 during trading on Friday, hitting $52.21. 6,997,608 shares of the stock were exchanged, compared to its average volume of 13,198,850. The firm has a market capitalization of $224.59 billion, a P/E ratio of 25.10, a PEG ratio of 3.65 and a beta of 0.46. The Coca-Cola Co has a 1-year low of $44.42 and a 1-year high of $55.92. The stock has a fifty day moving average price of $53.85 and a two-hundred day moving average price of $52.23. The company has a quick ratio of 0.79, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, October 18th. The company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. The Coca-Cola’s payout ratio is currently 76.92%.

In related news, insider Nikolaos Koumettis sold 146,000 shares of The Coca-Cola stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $54.31, for a total value of $7,929,260.00. Following the sale, the insider now directly owns 244,451 shares in the company, valued at $13,276,133.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Francisco Crespo sold 130,637 shares of The Coca-Cola stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $55.15, for a total value of $7,204,630.55. Following the completion of the sale, the senior vice president now owns 139,975 shares in the company, valued at $7,719,621.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 403,026 shares of company stock worth $22,037,406. Company insiders own 1.33% of the company’s stock.

Several equities analysts have recently issued reports on the company. SunTrust Banks lifted their price objective on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Guggenheim set a $59.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. set a $59.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Co set a $60.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Credit Suisse Group lifted their price objective on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola presently has an average rating of “Buy” and an average target price of $55.95.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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