Wesbanco Bank Inc Lowers stake in The Coca-Cola Co (KO)

The Coca-Cola Co (KO) : Wesbanco Bank Inc reduced its stake in The Coca-Cola Co by 3.03% during the most recent quarter end. The investment management company now holds a total of 401,042 shares of The Coca-Cola Co which is valued at $17,545,588 after selling 12,551 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.The Coca-Cola Co makes up approximately 1.01% of Wesbanco Bank Inc’s portfolio.

Other Hedge Funds, Including , Bruderman Asset Management boosted its stake in KO in the latest quarter, The investment management firm added 292 additional shares and now holds a total of 13,514 shares of The Coca-Cola Co which is valued at $587,048. The Coca-Cola Co makes up approx 0.18% of Bruderman Asset Management’s portfolio.Ropes Wealth Advisors boosted its stake in KO in the latest quarter, The investment management firm added 8,499 additional shares and now holds a total of 43,980 shares of The Coca-Cola Co which is valued at $1,924,125. The Coca-Cola Co makes up approx 0.65% of Ropes Wealth Advisors’s portfolio.Zwj Investment Counsel Inc reduced its stake in KO by selling 19,778 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 1,580,708 shares of KO which is valued at $69,155,975. The Coca-Cola Co makes up approx 6.92% of Zwj Investment Counsel Inc’s portfolio.Argent Trust Co reduced its stake in KO by selling 1,843 shares or 2.78% in the most recent quarter. The Hedge Fund company now holds 64,556 shares of KO which is valued at $2,806,895. The Coca-Cola Co makes up approx 1.20% of Argent Trust Co’s portfolio.Beacon Financial Group boosted its stake in KO in the latest quarter, The investment management firm added 2,164 additional shares and now holds a total of 162,405 shares of The Coca-Cola Co which is valued at $7,428,405. The Coca-Cola Co makes up approx 1.56% of Beacon Financial Group’s portfolio.

The Coca-Cola Co opened for trading at $44.01 and hit $44.07 on the upside on Wednesday, eventually ending the session at $44.06, with a gain of 0.52% or 0.23 points. The heightened volatility saw the trading volume jump to 1,12,08,499 shares. Company has a market cap of $190,164 M.

On the company’s financial health, The Coca-Cola Co reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.58. The company had revenue of $11539.00 million for the quarter, compared to analysts expectations of $11629.87 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on Jul 21, 2016, The Coca-Cola Co announced a cash dividend of $0.3500. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on The Coca-Cola Co. Shares were Reiterated by Stifel on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $54 .

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands primarily sparkling beverages but also a range of still beverages such as waters enhanced waters juices and juice drinks ready-to-drink teas and coffees and energy and sports drinks. It owns and markets a range of nonalcoholic sparkling beverage brands such as Coca-Cola Diet Coke Fanta and Sprite. The Company makes its beverage products available to consumers throughout the world through its network of Company-owned or controlled bottling and distribution operations as well as independent bottling partners distributors wholesalers and retailers. The Company’s segments include Eurasia and Africa Europe Latin America North America Asia Pacific Bottling Investments and Corporate.

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