Verity Asset Management Inc. Acquires Shares of 7,018 Coca-Cola Company (The) (KO)

Verity Asset Management Inc. acquired a new position in shares of Coca-Cola Company (The) (NYSE:KO) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,018 shares of the company’s stock, valued at approximately $298,000.

A number of other hedge funds also recently made changes to their positions in the business. Shell Asset Management Co. lifted its position in shares of Coca-Cola Company (The) by 0.5% in the 1st quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock worth $37,216,000 after buying an additional 4,101 shares during the last quarter. Guinness Asset Management Ltd lifted its position in Coca-Cola Company (The) by 13.4% in the 1st 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 position in Coca-Cola Company (The) by 90.2% in the 1st 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. Keystone Financial Planning Inc. lifted its position in Coca-Cola Company (The) by 2.1% in the 1st quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock valued at $5,111,000 after purchasing an additional 2,465 shares during the last quarter. Finally, Marathon Asset Management LLP lifted its position in Coca-Cola Company (The) by 7.3% in the 1st quarter. Marathon Asset Management LLP now owns 2,699,084 shares of the company’s stock valued at $115,439,000 after purchasing an additional 184,589 shares during the last quarter. 64.62% of the stock is owned by institutional investors.

In other Coca-Cola Company (The) news, insider Brian John Smith sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.10, for a total value of $4,610,000.00. Following the transaction, the insider now directly owns 136,385 shares in the company, valued at approximately $6,287,348.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francisco Crespo sold 7,700 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $46.01, for a total value of $354,277.00. Following the completion of the transaction, the insider now owns 29,943 shares in the company, valued at $1,377,677.43. The disclosure for this sale can be found here. Insiders have sold a total of 366,835 shares of company stock worth $16,874,246 in the last three months. 1.51% of the stock is currently owned by insiders.

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Shares of Coca-Cola Company (KO) opened at 45.49 on Friday. The firm has a market capitalization of $194.03 billion, a PE ratio of 48.04 and a beta of 0.71. The firm has a 50-day moving average of $45.85 and a 200-day moving average of $44.43. Coca-Cola Company has a 1-year low of $39.88 and a 1-year high of $46.98.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. Coca-Cola Company (The)’s dividend payout ratio is presently 154.17%.

Several brokerages recently weighed in on KO. Vetr upgraded shares of Coca-Cola Company (The) from a “sell” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Deutsche Bank AG reiterated a “hold” rating and issued a $46.00 price objective (up from $44.00) on shares of Coca-Cola Company (The) in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Friday, July 28th. Macquarie began coverage on shares of Coca-Cola Company (The) in a research report on Friday, September 15th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, BMO Capital Markets dropped their price target on shares of Coca-Cola Company (The) from $47.00 to $46.00 and set a “market perform” rating on the stock in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.85.

About Coca-Cola Company (The)

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.

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

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