Contravisory Investment Management Lowers stake in The Coca-Cola Co (KO)

The Coca-Cola Co (KO) : Contravisory Investment Management reduced its stake in The Coca-Cola Co by 4.88% during the most recent quarter end. The investment management company now holds a total of 161,797 shares of The Coca-Cola Co which is valued at $6,751,789 after selling 8,295 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.The Coca-Cola Co makes up approximately 2.21% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , First American Trust Fsb reduced its stake in KO by selling 801 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 29,125 shares of KO which is valued at $1,217,716. The Coca-Cola Co makes up approx 0.38% of First American Trust Fsb’s portfolio.Mcqueen Ball Associates boosted its stake in KO in the latest quarter, The investment management firm added 182 additional shares and now holds a total of 40,291 shares of The Coca-Cola Co which is valued at $1,684,567. The Coca-Cola Co makes up approx 1.15% of Mcqueen Ball Associates’s portfolio.

The Coca-Cola Co closed down -0.19 points or -0.46% at $41.54 with 1,22,49,060 shares getting traded on Tuesday. Post opening the session at $41.66, the shares hit an intraday low of $41.4 and an intraday high of $41.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, The Coca-Cola Co reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.58. The company had revenue of $11539.00 million for the quarter, compared to analysts expectations of $11629.87 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on The Coca-Cola Co. Credit Suisse Initiated The Coca-Cola Co on Sep 16, 2016 to “Neutral”, Price Target of the shares are set at $44.Shares were Reiterated by Stifel on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $54 .

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands primarily sparkling beverages but also a range of still beverages such as waters enhanced waters juices and juice drinks ready-to-drink teas and coffees and energy and sports drinks. It owns and markets a range of nonalcoholic sparkling beverage brands such as Coca-Cola Diet Coke Fanta and Sprite. The Company makes its beverage products available to consumers throughout the world through its network of Company-owned or controlled bottling and distribution operations as well as independent bottling partners distributors wholesalers and retailers. The Company’s segments include Eurasia and Africa Europe Latin America North America Asia Pacific Bottling Investments and Corporate.

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