The Coca-Cola Co (KO) : Sawgrass Asset Management reduced its stake in The Coca-Cola Co by 13.57% during the most recent quarter end. The investment management company now holds a total of 1,617,775 shares of The Coca-Cola Co which is valued at $70,599,701 after selling 253,970 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.The Coca-Cola Co makes up approximately 3.22% of Sawgrass Asset Management’s portfolio.
Other Hedge Funds, Including , Plante Moran Financial Advisors boosted its stake in KO in the latest quarter, The investment management firm added 660 additional shares and now holds a total of 39,266 shares of The Coca-Cola Co which is valued at $1,713,568. The Coca-Cola Co makes up approx 1.22% of Plante Moran Financial Advisors’s portfolio.Tocqueville Asset Management boosted its stake in KO in the latest quarter, The investment management firm added 216,835 additional shares and now holds a total of 1,071,381 shares of The Coca-Cola Co which is valued at $46,744,353. The Coca-Cola Co makes up approx 0.58% of Tocqueville Asset Management’s portfolio.Greatmark Investment Partners reduced its stake in KO by selling 42 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 159,392 shares of KO which is valued at $6,954,273. The Coca-Cola Co makes up approx 3.00% of Greatmark Investment Partners’s portfolio. Wespac Advisors added KO to its portfolio by purchasing 4,795 company shares during the most recent quarter which is valued at $208,103. The Coca-Cola Co makes up approx 0.21% of Wespac Advisors’s portfolio.Butensky Cohen Financial Security Inc reduced its stake in KO by selling 2,564 shares or 5.19% in the most recent quarter. The Hedge Fund company now holds 46,851 shares of KO which is valued at $2,033,333. The Coca-Cola Co makes up approx 1.98% of Butensky Cohen Financial Security Inc’s portfolio.
The Coca-Cola Co closed down -0.04 points or -0.09% at $43.44 with 86,80,309 shares getting traded on Monday. Post opening the session at $43.43, the shares hit an intraday low of $43.22 and an intraday high of $43.5166 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 Companys segments include Eurasia and Africa Europe Latin America North America Asia Pacific Bottling Investments and Corporate.