Newfound Research LLC Sells 1,143 Shares of The Coca-Cola Company (NYSE:KO)


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Newfound Research LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 47.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,255 shares of the company’s stock after selling 1,143 shares during the period. Newfound Research LLC’s holdings in The Coca-Cola were worth $66,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position in shares of The Coca-Cola by 16.3% in the 4th quarter. FMR LLC now owns 56,240,715 shares of the company’s stock valued at $3,084,241,000 after acquiring an additional 7,887,519 shares during the period. Morgan Stanley boosted its holdings in shares of The Coca-Cola by 7.5% during the 4th quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after buying an additional 3,397,649 shares during the period. Norges Bank bought a new stake in shares of The Coca-Cola during the 4th quarter worth about $2,345,618,000. Bank of New York Mellon Corp boosted its holdings in shares of The Coca-Cola by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after buying an additional 3,818,182 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in The Coca-Cola by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock worth $2,077,505,000 after purchasing an additional 1,995,835 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Several equities analysts have recently commented on KO shares. HSBC dropped their target price on shares of The Coca-Cola from $61.00 to $58.00 in a research report on Wednesday, January 13th. Guggenheim cut shares of The Coca-Cola from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. Sanford C. Bernstein assumed coverage on shares of The Coca-Cola in a report on Tuesday, January 19th. They set an “outperform” rating and a $58.00 target price on the stock. Wolfe Research assumed coverage on shares of The Coca-Cola in a report on Monday, April 12th. They set a “peer perform” rating on the stock. Finally, Credit Suisse Group reissued a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a report on Wednesday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.69.

Shares of The Coca-Cola stock traded down $0.20 during trading on Tuesday, reaching $54.28. 296,680 shares of the company traded hands, compared to its average volume of 17,970,572. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.13 and a quick ratio of 1.01. The Coca-Cola Company has a 1-year low of $43.20 and a 1-year high of $54.93. The company has a 50 day moving average price of $52.90 and a 200-day moving average price of $51.54. The firm has a market capitalization of $234.04 billion, a PE ratio of 28.38, a P/E/G ratio of 5.70 and a beta of 0.58.

The Coca-Cola (NYSE:KO) last released its earnings results on Sunday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The company had revenue of $9 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The Coca-Cola’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 1.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, June 14th. This represents a $1.68 annualized dividend and a yield of 3.10%. The Coca-Cola’s payout ratio is 79.62%.

In other The Coca-Cola news, VP Kathy Loveless sold 501 shares of the company’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $50.46, for a total transaction of $25,280.46. Following the transaction, the vice president now owns 10,224 shares in the company, valued at $515,903.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 110,000 shares of the company’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the transaction, the chief executive officer now owns 266,718 shares in the company, valued at approximately $14,530,796.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,501 shares of company stock worth $11,883,380. Corporate insiders own 1.01% of the company’s stock.

The Coca-Cola 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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