Regent Investment Management LLC Sells 1000 Shares of The Coca-Cola Co (KO)
- Author: Zachary Reyes Jun 09, 2017,
Jun 09, 2017, 17:31
Granite Investment Advisors LLC cut its stake in The Coca-Cola Co (NYSE:KO) by 27.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). Moore Gary Lee sold $1.55M worth of stock or 22,742 shares. NA's holdings in The Coca-Cola were worth $2,550,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company.
Shares of Coca-Cola European Partners PLC (NYSE:CCE) decreased -0.22% and closed at $40.85 after opening 40.92 with the overall traded volume of 836,050.00 shares. Asset Management One Co. WINTON GROUP Ltd raised its stake in shares of The Coca-Cola by 1,213.1% in the third quarter. Dubuque Retail Bank & Com has 0.6% invested in The Coca-Cola Co (NYSE:KO) for 81,713 shares. The stock's 50 day moving average price is GBX 2,186.97 and its 200 day moving average price is GBX 1,919.51. The company has a market capitalization of $192.82 billion, a PE ratio of 31.76 and a beta of 0.69. Coca-Cola Bottling Co. Consolidated has a 52 week low of $119.80 and a 52 week high of $235.78. The Coca-Cola also was the recipient of some unusual options trading on Monday. Its sales stood at 6.60% a year on average in the period of last five years. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.01. The firm had revenue of $9.12 billion during the quarter, compared to analyst estimates of $8.85 billion. Coca-Cola Bottling Co. Consolidated had a return on equity of 16.64% and a net margin of 1.13%. They expect $0.57 earnings per share, down 5.00% or $0.03 from last year's $0.6 per share.
The company also recently declared a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Monday, May 22nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, May 18th. Coca-Cola European Partners plc's payout ratio is now 31.98%.
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KO has been the subject of several research analyst reports. The stock of The Coca-Cola Co (NYSE:KO) earned "Market Perform" rating by Wells Fargo on Thursday, January 19. They noted that the move was a valuation call. Sanford C. Bernstein set a $47.00 target price on shares of The Coca-Cola and gave the company a "buy" rating in a research report on Friday, February 10th. Finally, Vetr raised shares of The Coca-Cola from a "hold" rating to a "buy" rating and set a $44.81 price target for the company in a report on Monday, April 24th. Stock has got OUTPERFORM rating from 5 analyst of Thomson Reuters, 3 analyst given HOLD rating to the stock and 0 given UNDERPERFORM rating. The company presently has an average rating of "Hold" and a consensus target price of $44.53. The shares were bought at an average cost of GBX 1,988 ($25.54) per share, for a total transaction of £1,968.12 ($2,528.09). Following the completion of the sale, the insider now directly owns 149,185 shares in the company, valued at $6,479,104.55.