Kornitzer Capital Management Inc. KS lessened its stake in Coca-Cola Company (The) (NYSE:KO) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,156,119 shares of the company’s stock after selling 24,290 shares during the quarter. Coca-Cola Company (The) accounts for 0.9% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 16th largest position. Kornitzer Capital Management Inc. KS’s holdings in Coca-Cola Company (The) were worth $51,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. North American Management Corp increased its holdings in Coca-Cola Company (The) by 10.3% during the 2nd quarter. North American Management Corp now owns 6,435 shares of the company’s stock valued at $289,000 after acquiring an additional 600 shares in the last quarter. Shell Asset Management Co. increased its holdings in Coca-Cola Company (The) by 0.5% during the 1st quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock valued at $37,216,000 after acquiring an additional 4,101 shares in the last quarter. Guinness Asset Management Ltd increased its holdings in Coca-Cola Company (The) by 13.4% during the 1st quarter. Guinness Asset Management Ltd now owns 232,940 shares of the company’s stock valued at $9,886,000 after acquiring an additional 27,560 shares in the last quarter. Montecito Bank & Trust increased its holdings in Coca-Cola Company (The) by 90.2% during the 1st quarter. Montecito Bank & Trust now owns 127,096 shares of the company’s stock valued at $5,394,000 after acquiring an additional 60,258 shares in the last quarter. Finally, BB&T Corp increased its holdings in Coca-Cola Company (The) by 9.5% during the 2nd quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after acquiring an additional 78,932 shares in the last quarter. Institutional investors and hedge funds own 64.62% of the company’s stock.

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In other Coca-Cola Company (The) news, insider Brian John Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.10, for a total transaction of $4,610,000.00. Following the completion of the sale, the insider now owns 136,385 shares of the company’s stock, valued at $6,287,348.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Randazza sold 24,156 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $46.01, for a total value of $1,111,417.56. Following the sale, the insider now directly owns 26,567 shares of the company’s stock, valued at approximately $1,222,347.67. The disclosure for this sale can be found here. Insiders have sold 366,835 shares of company stock valued at $16,874,246 in the last ninety days. Company insiders own 1.51% of the company’s stock.

Coca-Cola Company (NYSE KO) opened at 46.11 on Friday. Coca-Cola Company has a 12-month low of $39.88 and a 12-month high of $46.98. The stock has a market cap of $196.67 billion, a price-to-earnings ratio of 48.69 and a beta of 0.70. The company has a 50-day moving average of $45.71 and a 200 day moving average of $44.80.

Coca-Cola Company (The) (NYSE:KO) last announced its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The company’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities analysts anticipate that Coca-Cola Company will post $1.90 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. Coca-Cola Company (The)’s payout ratio is currently 154.17%.

KO has been the subject of several recent research reports. Barclays PLC set a $45.00 target price on shares of Coca-Cola Company (The) and gave the company a “neutral” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and set a $49.00 target price on shares of Coca-Cola Company (The) in a report on Wednesday, September 6th. UBS AG raised their target price on shares of Coca-Cola Company (The) from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Citigroup Inc. set a $53.00 target price on shares of Coca-Cola Company (The) and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, HSBC Holdings plc raised their target price on shares of Coca-Cola Company (The) from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.39.

Coca-Cola Company (The) Profile

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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

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