Keating Investment Counselors Inc. Sells 9,212 Shares of The Coca-Cola Co (KO)

Keating Investment Counselors Inc. lowered its position in shares of The Coca-Cola Co (NYSE:KO) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,212 shares of the company’s stock after selling 9,212 shares during the quarter. The Coca-Cola accounts for 2.0% of Keating Investment Counselors Inc.’s holdings, making the stock its 20th biggest position. Keating Investment Counselors Inc.’s holdings in The Coca-Cola were worth $4,721,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KO. Ascension Asset Management LLC raised its stake in The Coca-Cola by 5.3% in the 2nd quarter. Ascension Asset Management LLC now owns 22,050 shares of the company’s stock valued at $967,000 after acquiring an additional 1,100 shares during the period. Country Club Trust Company n.a. raised its stake in The Coca-Cola by 3.7% in the 3rd quarter. Country Club Trust Company n.a. now owns 30,995 shares of the company’s stock valued at $1,432,000 after acquiring an additional 1,100 shares during the period. Jag Capital Management LLC raised its stake in The Coca-Cola by 3.3% in the 2nd quarter. Jag Capital Management LLC now owns 34,844 shares of the company’s stock valued at $1,528,000 after acquiring an additional 1,116 shares during the period. Bontempo Ohly Capital Mgmt LLC raised its stake in The Coca-Cola by 1.7% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock valued at $3,111,000 after acquiring an additional 1,172 shares during the period. Finally, Accurate Investment Solutions Inc. raised its stake in The Coca-Cola by 1.4% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 85,659 shares of the company’s stock valued at $3,957,000 after acquiring an additional 1,173 shares during the period. 65.44% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the company. Macquarie restated a “neutral” rating and issued a $50.00 price target on shares of The Coca-Cola in a research note on Thursday. Morgan Stanley increased their price target on The Coca-Cola from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday. HSBC restated a “buy” rating and issued a $64.00 price target on shares of The Coca-Cola in a research note on Wednesday. Jefferies Financial Group increased their price target on The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $51.00 price target on shares of The Coca-Cola in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.22.

In other news, insider Brian John Smith sold 43,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the sale, the insider now directly owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total value of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares in the company, valued at $4,445,107.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,754 shares of company stock worth $2,954,800. 1.48% of the stock is currently owned by insiders.

Shares of NYSE KO opened at $48.00 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.26. The Coca-Cola Co has a one year low of $41.45 and a one year high of $48.62. The firm has a market capitalization of $204.76 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.15 and a beta of 0.60.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is 81.68%.

The Coca-Cola Company 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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