Bronson Point Management LLC Maintains Position in Coca-Cola Company (The) (NYSE:KO)

Bronson Point Management LLC continued to hold its stake in Coca-Cola Company (The) (NYSE:KO) during the first quarter, Holdings Channel reports. The firm owned 75,000 shares of the company’s stock at the end of the first quarter. Bronson Point Management LLC’s holdings in Coca-Cola Company (The) were worth $3,183,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KO. Allen Investment Management LLC raised its stake in Coca-Cola Company (The) by 1.8% in the first quarter. Allen Investment Management LLC now owns 66,436 shares of the company’s stock valued at $2,820,000 after buying an additional 1,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Coca-Cola Company (The) by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,738,092 shares of the company’s stock valued at $752,805,000 after buying an additional 1,001,984 shares during the last quarter. Legal & General Group Plc raised its stake in Coca-Cola Company (The) by 4.0% in the first quarter. Legal & General Group Plc now owns 20,535,490 shares of the company’s stock valued at $871,552,000 after buying an additional 789,178 shares during the last quarter. Stockman Wealth Management Inc. raised its stake in Coca-Cola Company (The) by 14.3% in the first quarter. Stockman Wealth Management Inc. now owns 13,416 shares of the company’s stock valued at $569,000 after buying an additional 1,676 shares during the last quarter. Finally, Verity Asset Management Inc. bought a new stake in Coca-Cola Company (The) during the first quarter valued at about $298,000. 63.68% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Company (KO) traded up 0.07% on Thursday, reaching $45.62. The company’s stock had a trading volume of 1,706,631 shares. The company has a 50 day moving average of $45.11 and a 200 day moving average of $43.53. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.42. The firm has a market capitalization of $194.58 billion, a price-to-earnings ratio of 48.17 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The company had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $9.62 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, analysts forecast that Coca-Cola Company will post $1.90 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. Coca-Cola Company (The)’s payout ratio is 154.17%.

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Several equities research analysts have recently issued reports on the company. Citigroup Inc. set a $53.00 price objective on Coca-Cola Company (The) and gave the company a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Coca-Cola Company (The) in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Coca-Cola Company (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub raised Coca-Cola Company (The) from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets lowered their price objective on Coca-Cola Company (The) from $47.00 to $46.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.70.

In other news, insider Jennifer K. Mann sold 8,819 shares of Coca-Cola Company (The) stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $45.61, for a total transaction of $402,234.59. Following the completion of the sale, the insider now directly owns 30,553 shares in the company, valued at approximately $1,393,522.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Randazza sold 24,156 shares of Coca-Cola Company (The) stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $46.01, for a total transaction of $1,111,417.56. Following the sale, the insider now owns 26,567 shares of the company’s stock, valued at $1,222,347.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 614,841 shares of company stock valued at $27,900,186. Insiders own 1.51% of the company’s stock.

Coca-Cola Company (The) Company Profile

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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Institutional Ownership by Quarter for Coca-Cola Company (The) (NYSE:KO)

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