Wedbush Securities Inc. Reduces Stake in The Coca-Cola Co (KO)

Wedbush Securities Inc. trimmed its stake in shares of The Coca-Cola Co (NYSE:KO) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,983 shares of the company’s stock after selling 4,883 shares during the quarter. Wedbush Securities Inc.’s holdings in The Coca-Cola were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in KO. C WorldWide Group Holding A S raised its position in shares of The Coca-Cola by 873.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after purchasing an additional 6,846,641 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $206,654,000. Natixis raised its position in shares of The Coca-Cola by 218.3% during the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after purchasing an additional 2,798,257 shares during the period. Eaton Vance Management raised its position in shares of The Coca-Cola by 39.4% during the 3rd quarter. Eaton Vance Management now owns 6,792,655 shares of the company’s stock worth $313,752,000 after purchasing an additional 1,918,931 shares during the period. Finally, Bank of Montreal Can raised its position in shares of The Coca-Cola by 47.4% during the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after purchasing an additional 1,907,604 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Shares of KO stock opened at $49.09 on Friday. The Coca-Cola Co has a 12-month low of $41.45 and a 12-month high of $50.84. The company has a market capitalization of $210.65 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.61. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Equities research analysts forecast that The Coca-Cola Co will post 2.08 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s payout ratio is currently 81.68%.

A number of analysts have recently weighed in on the company. Macquarie reiterated a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Tuesday. Royal Bank of Canada reiterated a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a research report on Monday, November 19th. Citigroup set a $56.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research report on Friday, November 9th. Morningstar set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, November 6th. Finally, Jefferies Financial Group increased their price objective on The Coca-Cola from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $51.43.

In other The Coca-Cola news, insider Jennifer K. Mann sold 15,100 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $50.40, for a total transaction of $761,040.00. Following the completion of the transaction, the insider now directly owns 40,058 shares of the company’s stock, valued at approximately $2,018,923.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,542 shares of company stock valued at $18,436,957. 1.48% of the stock is currently owned by corporate insiders.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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