The Coca-Cola Co (KO) Shares Sold by Sterling Capital Management LLC

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Sterling Capital Management LLC lessened its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,689 shares of the company’s stock after selling 1,353 shares during the quarter. Sterling Capital Management LLC’s holdings in The Coca-Cola were worth $7,838,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. WP Advisors LLC acquired a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $107,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $116,000. Westbourne Investment Advisors Inc. acquired a new stake in shares of The Coca-Cola in the 3rd quarter valued at about $117,000. Fort L.P. acquired a new stake in shares of The Coca-Cola in the 2nd quarter valued at about $122,000. Finally, Sageworth Trust Co raised its stake in shares of The Coca-Cola by 69.5% in the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after purchasing an additional 1,200 shares during the period. 65.45% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Brian John Smith sold 43,000 shares of The Coca-Cola stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the transaction, the insider now owns 123,908 shares in the company, valued at $5,947,584. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total value of $479,800.00. Following the transaction, 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 have sold 61,754 shares of company stock valued at $2,954,800 in the last quarter. 1.48% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on KO shares. Jefferies Financial Group reissued a “neutral” rating and issued a $45.00 price target on shares of The Coca-Cola in a research note on Tuesday, July 10th. Macquarie set a $47.00 price target on The Coca-Cola and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Stifel Nicolaus reissued a “neutral” rating and issued a $49.00 price target on shares of The Coca-Cola in a research note on Monday, July 16th. JPMorgan Chase & Co. reaffirmed a “$45.12” rating and issued a $49.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 18th. Finally, TheStreet raised The Coca-Cola from a “c+” rating to a “b-” rating in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.22.

The Coca-Cola stock opened at $49.11 on Wednesday. The Coca-Cola Co has a 52 week low of $41.45 and a 52 week high of $49.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98. The stock has a market cap of $204.76 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 3.14 and a beta of 0.60.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter last year, the company posted $0.50 earnings per share. The Coca-Cola’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Co will post 2.08 EPS 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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s payout ratio is currently 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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