Wellington Shields & Co. LLC Reduces Holdings in The Coca-Cola Company (KO)

Wellington Shields & Co. LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 42.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,325 shares of the company’s stock after selling 6,038 shares during the period. Wellington Shields & Co. LLC’s holdings in The Coca-Cola were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KO. Beach Investment Management LLC. acquired a new position in The Coca-Cola in the 2nd quarter worth about $736,000. Pacer Advisors Inc. increased its position in The Coca-Cola by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 89,668 shares of the company’s stock worth $4,022,000 after purchasing an additional 6,908 shares during the last quarter. Neuberger Berman Group LLC increased its position in The Coca-Cola by 6.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,886,138 shares of the company’s stock worth $129,443,000 after purchasing an additional 165,964 shares during the last quarter. Buckingham Asset Management LLC boosted its stake in shares of The Coca-Cola by 32.4% during the 2nd quarter. Buckingham Asset Management LLC now owns 34,840 shares of the company’s stock worth $1,563,000 after acquiring an additional 8,524 shares in the last quarter. Finally, Hudock Capital Group LLC boosted its stake in shares of The Coca-Cola by 5.2% during the 2nd quarter. Hudock Capital Group LLC now owns 32,718 shares of the company’s stock worth $1,467,000 after acquiring an additional 1,617 shares in the last quarter. 66.12% of the stock is currently owned by institutional investors.

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Shares of The Coca-Cola stock opened at $42.33 on Friday. The Coca-Cola Company has a 52 week low of $41.91 and a 52 week high of $48.62. The firm has a market capitalization of $180,575.80, a P/E ratio of 156.78, a P/E/G ratio of 2.45 and a beta of 0.77. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.34.

The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same quarter in the prior year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. equities analysts forecast that The Coca-Cola Company will post 2.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.69%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio (DPR) is currently 577.78%.

In other The Coca-Cola news, insider Ed Hays sold 84,400 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $45.00, for a total value of $84,735.00. Following the completion of the sale, the insider now owns 98,995 shares of the company’s stock, valued at approximately $4,454,775. The disclosure for this sale can be found here. Insiders sold a total of 124,523 shares of company stock valued at $5,885,511 in the last quarter. Corporate insiders own 1.48% of the company’s stock.

Several analysts have recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price target (up previously from $47.00) on shares of The Coca-Cola in a research note on Friday, February 16th. Susquehanna Bancshares set a $45.00 price target on The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Jefferies Group reiterated a “neutral” rating and set a $49.00 price target on shares of The Coca-Cola in a research note on Tuesday, February 20th. Vetr upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price target for the company in a research note on Monday, December 11th. Finally, Goldman Sachs set a $49.00 price target on The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $49.21.

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The Coca-Cola Company 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.

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

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