Coca-Cola Co. (KO) Position Reduced by Bourgeon Capital Management LLC
Bourgeon Capital Management LLC cut its stake in shares of Coca-Cola Co. (NYSE:KO) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,926 shares of the company’s stock after selling 1,900 shares during the period. Coca-Cola comprises 1.5% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Bourgeon Capital Management LLC’s holdings in Coca-Cola were worth $2,282,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Wealthsource Partners LLC purchased a new position in Coca-Cola during the first quarter valued at $203,000. Legal & General Group Plc raised its position in Coca-Cola by 1.1% in the first quarter. Legal & General Group Plc now owns 18,976,565 shares of the company’s stock valued at $880,383,000 after buying an additional 211,272 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Coca-Cola by 11.1% in the first quarter. Envestnet Asset Management Inc. now owns 429,241 shares of the company’s stock valued at $19,912,000 after buying an additional 42,916 shares in the last quarter. Clark Capital Management Group Inc. raised its position in Coca-Cola by 110.5% in the first quarter. Clark Capital Management Group Inc. now owns 10,952 shares of the company’s stock valued at $508,000 after buying an additional 5,748 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in Coca-Cola during the first quarter valued at $217,000. Institutional investors own 62.83% of the company’s stock.
Coca-Cola Co. (NYSE:KO) traded up 0.53% on Monday, hitting $41.75. The stock had a trading volume of 19,424,412 shares. The firm has a market cap of $180.07 billion, a P/E ratio of 25.32 and a beta of 0.68. Coca-Cola Co. has a 1-year low of $40.63 and a 1-year high of $47.13. The firm’s 50-day moving average price is $41.80 and its 200-day moving average price is $43.49.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The company earned $10.60 billion during the quarter, compared to the consensus estimate of $10.47 billion. During the same quarter last year, the company earned $0.51 EPS. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.35%. Coca-Cola’s dividend payout ratio is currently 84.85%.
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Several equities analysts recently commented on KO shares. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Sanford C. Bernstein reissued an “outperform” rating and set a $49.00 price target on shares of Coca-Cola in a research report on Wednesday, August 10th. Jefferies Group reissued a “hold” rating and set a $46.00 price target (up from $45.00) on shares of Coca-Cola in a research report on Thursday, October 27th. Stifel Nicolaus reissued a “neutral” rating on shares of Coca-Cola in a research report on Friday, September 30th. Finally, Goldman Sachs Group Inc. set a $44.00 price target on Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, October 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Coca-Cola currently has a consensus rating of “Hold” and a consensus target price of $46.90.
In other Coca-Cola news, VP Kathy N. Waller sold 36,342 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $42.06, for a total value of $1,528,544.52. Following the completion of the sale, the vice president now owns 104,345 shares in the company, valued at approximately $4,388,750.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.54% of the stock is owned by company insiders.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 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.
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