World Asset Management Inc cut its stake in Coca-Cola Company (The) (NYSE:KO) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,784 shares of the company’s stock after selling 50,440 shares during the period. Coca-Cola Company (The) makes up approximately 0.6% of World Asset Management Inc’s investment portfolio, making the stock its 23rd biggest position. World Asset Management Inc’s holdings in Coca-Cola Company (The) were worth $17,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KO. North American Management Corp lifted its stake in Coca-Cola Company (The) by 10.3% during the second quarter. North American Management Corp now owns 6,435 shares of the company’s stock valued at $289,000 after purchasing an additional 600 shares during the last quarter. Shell Asset Management Co. lifted its stake in Coca-Cola Company (The) by 0.5% during the first quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock valued at $37,216,000 after purchasing an additional 4,101 shares during the last quarter. Guinness Asset Management Ltd lifted its stake in Coca-Cola Company (The) by 13.4% during the first quarter. Guinness Asset Management Ltd now owns 232,940 shares of the company’s stock valued at $9,886,000 after purchasing an additional 27,560 shares during the last quarter. Montecito Bank & Trust lifted its stake in Coca-Cola Company (The) by 90.2% during the first quarter. Montecito Bank & Trust now owns 127,096 shares of the company’s stock valued at $5,394,000 after purchasing an additional 60,258 shares during the last quarter. Finally, BB&T Corp lifted its stake in Coca-Cola Company (The) by 9.5% during the second quarter. BB&T Corp now owns 913,715 shares of the company’s stock valued at $40,980,000 after purchasing an additional 78,932 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

In other news, insider Francisco Crespo sold 7,700 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $46.01, for a total value of $354,277.00. Following the sale, the insider now owns 29,943 shares of the company’s stock, valued at $1,377,677.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian John Smith sold 100,000 shares of the business’s stock in a transaction 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 directly owns 136,385 shares in the company, valued at approximately $6,287,348.50. The disclosure for this sale can be found here. In the last three months, insiders sold 366,835 shares of company stock worth $16,874,246. 1.51% of the stock is currently owned by insiders.

Coca-Cola Company (KO) opened at 46.52 on Wednesday. The stock’s 50 day moving average is $45.74 and its 200 day moving average is $44.86. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.98. The firm has a market cap of $198.42 billion, a price-to-earnings ratio of 49.12 and a beta of 0.70.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio is presently 154.17%.

KO has been the subject of several recent research reports. Sanford C. Bernstein set a $49.00 target price on shares of Coca-Cola Company (The) and gave the company a “buy” rating in a research note on Tuesday, July 11th. Credit Suisse Group reissued a “buy” rating and set a $49.00 target price on shares of Coca-Cola Company (The) in a research note on Monday, July 24th. UBS AG increased 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 research note on Thursday, July 27th. Zacks Investment Research raised shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $49.00 target price on shares of Coca-Cola Company (The) in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. Coca-Cola Company (The) has a consensus rating of “Hold” and an average price target of $46.43.

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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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