Douglas Lane & Associates LLC Boosts Stake in The Coca-Cola Company (NYSE:KO)


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Douglas Lane & Associates LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 16.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 915,921 shares of the company’s stock after acquiring an additional 132,002 shares during the quarter. Douglas Lane & Associates LLC’s holdings in The Coca-Cola were worth $50,229,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MidWestOne Financial Group Inc. lifted its position in The Coca-Cola by 136.7% during the third quarter. MidWestOne Financial Group Inc. now owns 23,672 shares of the company’s stock valued at $1,169,000 after purchasing an additional 13,672 shares during the last quarter. Motco grew its holdings in shares of The Coca-Cola by 0.7% during the 3rd quarter. Motco now owns 230,352 shares of the company’s stock valued at $11,372,000 after purchasing an additional 1,497 shares during the last quarter. Van ECK Associates Corp raised its position in The Coca-Cola by 0.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,295,017 shares of the company’s stock worth $63,935,000 after purchasing an additional 4,074 shares during the period. Point72 Hong Kong Ltd boosted its position in The Coca-Cola by 18.7% during the third quarter. Point72 Hong Kong Ltd now owns 104,932 shares of the company’s stock valued at $5,180,000 after buying an additional 16,557 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in shares of The Coca-Cola by 28.6% in the third quarter. Raymond James Trust N.A. now owns 986,782 shares of the company’s stock worth $48,717,000 after buying an additional 219,463 shares during the period. Institutional investors own 60.00% of the company’s stock.

In related news, Director David B. Weinberg sold 200,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $50.12, for a total transaction of $10,024,000.00. Following the completion of the transaction, the director now owns 355,214 shares of the company’s stock, valued at $17,803,325.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David B. Weinberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $49.75, for a total value of $4,975,000.00. Insiders sold a total of 400,000 shares of company stock valued at $20,264,000 over the last three months. Corporate insiders own 1.01% of the company’s stock.

KO traded down $0.58 during trading on Thursday, hitting $49.58. The company’s stock had a trading volume of 530,508 shares, compared to its average volume of 28,033,625. The Coca-Cola Company has a one year low of $36.27 and a one year high of $60.13. The business’s 50 day simple moving average is $52.90 and its 200-day simple moving average is $49.95. The firm has a market cap of $213.07 billion, a PE ratio of 25.94, a P/E/G ratio of 6.74 and a beta of 0.57. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 1.94.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.46 by $0.09. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The firm had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 1.88 EPS for the current fiscal year.

A number of research firms have recently weighed in on KO. UBS Group increased their price objective on The Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Royal Bank of Canada downgraded shares of The Coca-Cola from an “outperform” rating to a “sector perform” rating and set a $55.00 price objective on the stock. in a research report on Monday, January 4th. Wells Fargo & Company initiated coverage on shares of The Coca-Cola in a research report on Monday, December 7th. They set an “overweight” rating and a $62.00 price target on the stock. Guggenheim cut The Coca-Cola from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft cut The Coca-Cola from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $55.00 in a research note on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.18.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, 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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