The Coca-Cola Co (KO) Shares Sold by Seaward Management Limited Partnership
Seaward Management Limited Partnership decreased its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 252,496 shares of the company’s stock after selling 5,531 shares during the period. Seaward Management Limited Partnership’s holdings in The Coca-Cola were worth $11,364,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in shares of The Coca-Cola by 59.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after purchasing an additional 1,026 shares in the last quarter. Veritas Investment Management LLP bought a new position in shares of The Coca-Cola during the 3rd quarter valued at about $135,000. Spectrum Management Group Inc. bought a new position in shares of The Coca-Cola during the 3rd quarter valued at about $137,000. Eagle Ridge Investment Management acquired a new position in shares of The Coca-Cola in the second quarter worth about $138,000. Finally, Legacy Advisors LLC acquired a new position in shares of The Coca-Cola in the third quarter worth about $139,000. 65.30% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on KO shares. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Deutsche Bank started coverage on shares of The Coca-Cola in a report on Wednesday, December 13th. They issued a “buy” rating and a $52.00 target price for the company. Vetr upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 target price for the company in a report on Monday, December 11th. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Friday, October 27th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Sunday, November 12th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $49.01.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $9.08 billion during the quarter, compared to analysts’ expectations of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. analysts anticipate that The Coca-Cola Co will post 1.91 EPS for the current year.
In related news, CFO Kathy N. Waller sold 23,240 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the transaction, the chief financial officer now owns 123,796 shares of the company’s stock, valued at $5,713,185.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider J Alexander Douglas, Jr. sold 338,009 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares in the company, valued at approximately $14,749,399.17. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
The Coca-Cola Company 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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